Tokio Marine Updates Estimated Losses From Typhoon Melor
Tuesday, Oct 20,2009, 9:31:24 PM Click:
Tokio Marine & Nichido Fire Insurance Co. Ltd. [85100], a subsidiary of Tokio Marine Holdings Inc. [50962], reported an updated estimate of incurred losses, now at 12.36 billion yen (US $137 million), caused by Typhoon Melor. A previous estimate put the insurer's losses at 8.51 billion yen.
As of Oct. 19, incurred losses for marine and transport insurance totaled 5.93 billion yen, followed by 3.96 billion yen for fire insurance and 2.46 billion yen for automobile insurance. The estimated incurred losses did not take into account reinsurance coverage, said Tokio Marine. The amounts are subject to adjustment based on claims investigations and other factors.
Tokio Marine & Nichido Fire Insurance Co. Ltd. currently has a Best's Financial Strength Rating of A++ (Superior).
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