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Kumamoto quake losses likely to remain below 2016 levels: Howden Re Japan
['Kane Wells']
News news - Reinsurance News
According to the Japan Meteorological Agency, the earthquake measured magnitude 7.1 at a shallow depth of approximately 10 km, with shaking reaching the maximum intensity of Shindo 7 in parts of Kyushu.
“While Japan is one of the world’s most seismically active countries, this part of Kyushu is not associated with its largest subduction-zone earthquake sources.
Kentaro Tada, CEO, Howden Re Japan, said, “Our focus right now is on those affected across Kyushu.
Reported damage to Kumamoto’s semiconductor infrastructure appears limited so far, though restart timelines will determine the scale of business interruption losses.
“It’s too early for formal estimates, but we’d expect insured losses to remain well below the 2016 Kumamoto earthquake and closer to the 2024 Noto earthquake, unless the aftershock sequence reveals more extensive damage.”