Japanese big three add $800mn to Thai loss estimates
Japan's big three insurers have bolstered their reserves for last year's Thai floods by $800mn to take their combined net loss to $6.39bn, but none mentioned the size of their gross losses in their disclosure documents.
MS&AD, Tokio Marine and NKSJ made the announcements in their results for the year to 31 March, a day after The Insurance Insider reported that evidence of loss creep from Japanese cedants had emerged.
MS&AD, by the far the most loss-struck of the trio,...
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