Japan Loss: Omega Estimates $23.6 Million
Omega Group said its preliminary loss estimate from the March 11 earthquake and tsunami in Japan is US$23.6 million.
The London-listed, Bermuda-based property reinsurer said its preliminary loss estimate for the March 11 earthquake and tsunami in Japan at US$23.6 million, based on an estimated insured market loss of US$25 billion. “There is still significant uncertainty surrounding the total market loss of this event and these estimates will be subject to revision as loss notifications are received and information becomes clearer,” said Omega.
The group is also estimated ultimate losses, net of reinsurance and reinstatement premiums, of US$9.5 million from the February New Zealand earthquake, and losses of US$7.6 million from floods in Australia’sQueensland state. Those estimates are updates and fall within previously estimated ranges, according to Omega.
