Insurers expect storm disaster claims payouts of nearly $9 billion
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Three Japanese insurers expect claims payout from wind and water related natural disasters this year to total $8.8 billion, Artemis reports. Claims payout for MS&AD Insurance Group Holdings Inc. could surpass 400 billion Japanese yen ($3.6 billion), while Sompo Holdings Inc. and Tokio Marine Holdings Inc. are expected to payout JPY 300 billion each. MS&AD, which reported gross catastrophe losses of JPY 463 billion, said that it could recover JPY 279 billion from its reinsurance program.
