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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Box-By-The-Riviera™ who wrote (19742)	12/28/2004 5:14:47 PM
From: RealMuLan	Read Replies (2) of 116555

[I guess because most of those poor people are uninsured]--"Munich Re: Tsunamis to Cost Less Than $136M" 12.28.2004, 12:21 PM Munich Re, the world's biggest reinsurer, said Tuesday that the deadly Indian Ocean tsunamis likely will cost it less than 100 million euros ($136 million). The company cautioned that it was too early to offer a "substantiated damage estimate" but said initial information suggested its exposure would be limited and it sees no need to revise its earnings forecasts. "The insurance concentration is relatively thin, and the insured damage is likely to be contained," it said in a statement. Reinsurers provide backup for primary insurance companies, enabling the system to spread risk so it can cover losses from major disasters. forbes.com

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