Thailand Flooding to Hit Reinsurance Industry

Posted on Dec 13, 2011 by Sergio Ulloa (G+)  | Tags: Asia Capital Reinsurance, Munich Re, Swiss Re, Thailand Flooding

With the flooding in Thailand beginning to abate after it first started in July, the cost of covering all the P&C (property & casualty) insurance claims and other flood-related claims may come to upwards of US$10 billion for the insurance industry. With the rains during Thailand's monsoon season causing flooding across many parts of the country over the last few months, the loss of life and property has been devastating and will continue to have long lasting effects. The World Bank estimated in early December that the total damage from the floods was about US$45 billion.

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