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EQECAT says Japan quake losses now up to $39B

May 09, 2011 Reprints

Catastrophes P/C Insurers Asia-Pacific & Australasia More + Less -

OAKLAND, Calif. (Reuters)—Catastrophe modeling company EQECAT Inc. on Monday sharply increased its estimate of insured losses from the March 11 earthquake in Japan, saying they might now reach as high as $39 billion.

EQECAT's initial estimate had been $12 billion to $25 billion, but the new forecast says losses were more likely in a range of $22 billion to $39 billion. EQECAT said the revised forecast takes into account a number of factors, including disruptions caused by the radiation leakage from the Fukushima nuclear power complex.

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EQECAT says Japan quake losses now up to $39B

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