Sompo takes $403mn hit from Kumamoto quake

Sompo Japan Nipponkoa booked 41.2bn yen ($403mn) of losses upfront
from the Kumamoto earthquake in the three months to 30 June.
However, the loss number should be netted down to reflect
catastrophe loss reserves of 37.0bn yen. Japanese insurers lay down
cat reserves in loss-free periods which they can then release after
a disaster to mitigate major losses.
Residential claims from the earthquake will have been picked up
by the Japanese government's insurance scheme, leaving domestic
carriers with