Quake payouts reach $2.56 billion

The General Insurance Association of Japan said that insurance payouts for damage to dwellings from the April earthquakes in Kumamoto Prefecture have reached a total of $2.56 billion, reported Artemis.bm.

The payouts increased 16% in a week. The $2.56 billion payout accounts for 85% of the claims made with insurers to date for the quake. The total insured loss is expected to be nearly $3 billion. Reinsurers and any exposed insurance-linked securities funds could see their exposure rise in the coming few weeks.

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