Sompo expects to pay more than $600 million for hurricanes, quakes
Posted On: Oct. 23, 2017 4:00 AM CSTJapan-based insurer Sompo Holdings Inc. expects to pay about 70 billion Japanese yen ($616.6 million) in claims related to natural disasters in North and Central America in August and September, The Japan News reported. The insurer is likely to pay JPY 69 billion for hurricanes Harvey, Irma and Maria and JPY 1 billion for earthquake claims in Mexico. The three Japanese nonlife insurers – Sompo, MS&AD Insurance Group Holdings Inc. and Tokio Marine Holdings Inc. – are expected to pay up to JPY 245 billion for hurricane and quake claims.