Japan quake insured losses up to $2.9bn: AIR

Catastrophe modelling firm AIR Worldwide has estimated insured
property losses from the earthquakes that struck Japan's
Kumamoto prefecture last week at between 180bn yen ($1.7bn) and
320bn yen ($2.9bn).
International reinsurers will pick up the first dollar losses
from the quakes owing to the massive quake quota shares that are
bought by the big three Japanese insurers, although the loss ratios
are likely to be very manageable owing to the huge ceded premiums
on these deals.
The quake, which re