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International

India's GIC Re anticipates Nepal quake claims to be less than $50 million

May 04, 2015 Reprints

General Insurance Corporation of India has estimated the worst case scenario loss from the recent Nepal earthquake to be less than $50 million, reported Business Standard.

"Our gross exposure in the Nepalese insurance market is around $140 million (approximately 8.82billion Indian rupees) but it will take some time to arrive at any estimated figure of our losses due to the recent earthquake there," GIC Re said. The reinsurer is the largest reinsurance partner of Nepal's insurance sector.

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India's GIC Re anticipates Nepal quake claims to be less than $50 million

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