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Sri Lanka floods have greater impact on insurers than 2004 tsunami

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Dirk Pereira, president of the Insurance Association of Sri Lanka, said that the negative impact of the recent floods on insurers "is greater than that of the tsunami of December 2004," The Island reported.

The nation's insurance sector expects the value of the claims from the recent floods to top the initial estimate of 7 billion Sri Lankan rupees ($48 million).

The country's finance minister Ravi Karunanayake said that reconstruction costs would total up to LKR 250 billion.

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