6 December 2019Insurance

Hagibis claims to exceed €5m ($5.5m) – Sava Re

Slovenia-based reinsurer Sava Re has said that according to latest estimates, the claims payable under its reinsurance treaties following Typhoon Hagibis, which hit Japan in October 2019, will exceed €5 million ($5.5m).

One loss event of €5 million has already been factored into the net profit target of the Sava Insurance Group for 2019. Sava Insurance Group said: “Assuming there are no further claim events of a similar magnitude, the Sava Insurance Group can still achieve its profit target for 2019.”

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