Sogaz Insurance pays $1.8 million reinsurance compensation to Chilean mining firm

Posted On: Nov. 25, 2015 12:00 AM CST

Russia's Sogaz Insurance Group has made a preliminary payment of €1.7 million ($1.8 million) as reinsurance compensation to Chilean mining firm Codelco in relation to the March floods in Chile, reports Forinsurer.

Codelco suffered significant damage from the floods. Codelco's property risks have been reinsured under Sogaz's retrocession contract.