6 October 2017Insurance

MS&AD reviews FY targets on potential $970m nat cat hit

Japan’s MS&AD, which houses Mitsui Sumitomo Insurance and MS Amlin among others, said on Oct. 6 that it is reviewing its consolidated earnings forecasts for the year ending March 31, 2018 as it expects nat cat losses in the range of $620 million and $970 million.

The expected losses are driven by hurricanes in North America and the Caribbean, and earthquakes in Mexico in August and September.

Expected losses from Hurricane Harvey range from $130 million to $220 million, Hurricane Irma is expected to range from $270 million to $440 million, Hurricane Maria may cost between $180 million and $220 million, earthquakes in Mexico are expected to cost between
$40 million to $90 million.

The loss estimates may be revised in the future.

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