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Tokio Marine: sees insurance payout for Kumamoto quake around 5b yen

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Tokio Marine Holdings Inc said on Friday it estimates insurance payout for damages from last month's deadly earthquakes in southern Japan to be around 5 billion yen (S$62.7 million).

[TOKYO] Tokio Marine Holdings Inc said on Friday it estimates insurance payout for damages from last month's deadly earthquakes in southern Japan to be around 5 billion yen (S$62.7 million).

The estimate does not include insurance for residential earthquake coverage, which is reinsured by the government in a programme designed to provide affordable insurance in a quake-prone country.

The bulk of the insurer's payout is for corporate insurance to cover damaged factory buildings and equipment.

On April 14, the first of several earthquakes struck the southern manufacturing hub of Kumamoto, damaging houses, causing landslides and halting production at electronics and car parts factories in the area.

REUTERS