Sompo Holdings has racked up losses from the August and September hurricanes that devastated the East Coast of the U.S. and the Caribbean, and the two major Mexico earthquakes, of $617 million (JPY 70bn), pre-tax.
Hurricanes Harvey and Irma accounted for the Japanese carrier’s heaviest losses with $211.6 million (JPY 24bn) and $326 million (JPY 37bn), respectively.
Hurricane Maria drew in $70.5 million (JPY 8bn) of losses, and the Mexico earthquakes just $8.8 million (JPY 1bn).
The loss estimates are net of reinsurance and less net loss attributable to non-controlling shareholders, and will be revised when final claims are tallied.
Sompo said its consolidated earnings forecast for the fiscal year ending March 31st, 2018 is
currently under review, and any potential revisions will be immediately announced.
