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Payouts for typhoon-related ILW contracts could total $100 million

Posted On: Apr. 15, 2019 6:16 AM CST

Damage from Typhoon Jebi in Japan

Swiss Re Ltd. said that as the estimated insurance and reinsurance tab continues creeping upward towards the $10 billion mark for typhoon Jebi, losses will trigger payouts of up to $100 in industry loss warranty contracts, reports. The ILW contracts are likely to be triggered after total losses exceeded $7.5 billion for the typhoon that hit in September 2019, the reinsurer added.

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