Industry estimates have varied dramatically, but AM Best anticipates insurance losses from 3 Apr earthquake will not exceed Meinong earthquake's US$500m in losses.
Claims to be well in excess of GXL US$100m attachment point, leaving reinsurers bearing bulk of insured cost, but risk understood to be spread across 80 reinsurers.
With efforts to improve profitability and a strong capital position, Japan's GI industry received a stable outlook despite nat cat and macroeconomic challenges.
