Natural catastrophes weigh down on Japanese insurers’ profitability

Hurricanes Harvey, Irma and Maria along with the Mexico earthquake are poised to cost Japanese insurers dearly. The bill would amount to more than 200 billion JPY (1.78 billion USD) for Tokio Marine Holdings, MS&AD Insurance Group and Sompo Holdings.

MS&AD has reckoned a loss between 70 and 110 billion JPY (622 and 977.6 million USD). Sompo has not yet reported its estimate while experts are expecting losses similar to those sustained by MS&AD.

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