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Cyprus blast (re)insurers set for EUR100mn compensation

16 January 2013

(Re)insurers hit by the July 2011 power station explosion in Cyprus - which cost the market some EUR600mn - will receive EUR99mn of compensation from the island's government.

According to local news sources, the Cypriot attorney general Petros Clerides told MPs at the Republic of Cyprus House finance committee earlier this week that a deal had been agreed between the state and the plant's (re)insurers.

The explosion at the Vasilikos power plant hit the energy market in the same year...

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