Counting the cost…
Regardless of whether the Japanese quake costs international (re)insurers $15bn or $30bn - most likely somewhere in between although we may never know the final tally - it will take cat reinsurers years to earn back the cost of the 2010 and Q1 2011 losses.
The global cat reinsurance market is worth approximately $18bn a year in premium income, split roughly in half between US and international (non-US) business. But, while the US has now dodged three hurricane seasons, international...
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