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The General Insurance Association of Japan has said that insured and reinsured losses from the April earthquakes in Kumamoto Prefecture have now hit $3 billion, Artemis.bm reports.
An official at Aon Benfield's catastrophe modeling arm Impact Forecasting L.L.C. said that the total insurance and reinsurance industry loss from the quakes would likely exceed $4 billion after business interruption are factored in.