Address Hotel fire loss climbs to $330mn

Emaar Properties, the property manager for the Address Downtown
Hotel complex in Dubai, has signed an agreement with its insurer to
recover 1.22bn dirhams ($330mn) in relation to a fire at the site
in December 2015, it announced today.
Emaar's primary insurer is Orient Insurance. Sources told
The Insurance Insider that Orient had a 36 percent share of the
cover, but was heavily reinsured by a panel including Ace, Chubb
and QBE.
Zurich is understood to have a 30 percent...