NU Online News Service, March  14, 11:58 p.m. EST

The insurance industry is just beginning to grasp the consequences following the massive earthquake and tsunami in Japan late last week, with one catastrophe modeler estimating insured property losses at $35 billion.

Some smaller reinsurers "may suffer outsized losses relative to their capital positions," according to Standard & Poor's MartketScope Advisor. Claims from the earthquake are "likely to set new records."

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.