Tianjin explosions cost insurers nearly $2 billion
Posted On: Nov. 19, 2015 12:00 AM CSTFilings by 26 insurers indicate that the explosions at China's Tianjin port in August cost insurers across the globe nearly $2 billion, reports Bloomberg.
Swiss Re Ltd.'s economic research and consulting unit said that the Tianjin event was the fourth most expensive man-made disaster for the insurance industry based on current estimates and adjusted for inflation. Zurich Insurance Group Ltd. suffered the biggest loss of $275 million from the blasts.