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International

India: Claims from cyclone, floods could reach nearly $1 billion

October 23, 2014 Reprints

Indian general insurers' profits for fiscal year 2015 are likely to be hit by the damage from the recent cyclone Hudhud and the Jammu and Kashmir floods, The Hindu Business Line reports.

Industry estimates suggest that claims from the two disasters could reach more than 60 billion Indian rupees ($979 million). Ashok Kumar Roy, head of General Insurance Corp. of India, said the reinsurer has not yet received a claims estimate for the Jammu and Kashmir region.

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India: Claims from cyclone, floods could reach nearly $1 billion

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