Member access

4-Traders Homepage  >  Shares  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  QBE Insurance Group Ltd    QBE   AU000000QBE9

End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 05/05
13.6 AUD   -0.95%
04/30 QBE INSURANCE : Singapore launches new construction insurance produc..
04/03 QBE INSURANCE : Judge hears consumers', attorney general's case agai..
04/02 QBE INSURANCE : 2015 AGM - Result of meeting
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Mexican Quake Insured Property Damage Seen At MXN2.07 Billion

03/23/2012 | 04:58pm US/Eastern

MEXICO CITY (Dow Jones) -- The strong earthquake that struck Mexico on Tuesday may trigger 2.07 billion pesos ($162 million) in payouts for damages to insured property, Mexican insurance association AMIS said Friday.

The estimate is based on the magnitude of the tremor, which reached 7.4 on the Richter scale, AMIS said. Had the quake hit a magnitude of 7.8, as initially reported, then damage estimates would have been closer to MXN5.60 billion.

The insurance association predicts that 80% of the insured damages took place in the state of Guerrero, with some damage claims also expected to arise in the Federal District as well as in the states of Oaxaca and Puebla.

While a 7.4-magnitude tremor is capable of causing major damage, the Mexican capital -- the country's economic heart -- escaped widespread damage.

Major international insurance companies operating in Mexico include MetLife Inc. (MET), AXA SA (>> AXA) and QBE Insurance Group Ltd. (>> QBE Insurance Group Limited).

Home insurance is not common in Mexico, with only mortgage debt typically covered by policies; just over 31% of homes carry some degree of insurance linked to a loan. Apart from obligatory coverage for debt on mortgaged homes, only 4.5% of homes are insured by their owners.

-By Amy Guthrie, Dow Jones Newswires; (5255) 5980-5177; amy.guthrie@dowjones.com

Stocks mentioned in the article : AXA, QBE Insurance Group Limited
React to this article
Latest news on QBE INSURANCE GROUP LTD
04/30 QBE INSURANCE : Singapore launches new construction insurance product
04/03 QBE INSURANCE : Judge hears consumers', attorney general's case against North Po..
04/02 QBE INSURANCE : 2015 AGM - Result of meeting
04/02DJTHE SOCIAL NET WORTH : Australia Taps Bonds For Welfare Schemes
04/01DJQBE INSURANCE : Says Strong US Dollar Eroding Revenue
03/10 QBE INSURANCE : North America Awards Grants to 10 Organizations
03/06 QBE INSURANCE : North America Awards Grants to 10 Organizations
03/04 QBE INSURANCE GROUP LTD : ex-dividend day for final dividend
02/23 QBE INSURANCE : Turns To Profit In 2014
02/23 QBE INSURANCE : announces sale of Argentine workers’ compensation business
Advertisement
Chart
Duration : Period :
QBE Insurance Group Ltd Technical Analysis Chart | QBE | AU000000QBE9 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF