Insurer predicts combined $17.1m loss for other 2011 catastrophes

Lloyd's insurer Omega has estimated that the 11 March earthquake and tsunami in Japan will cost it $23.6m.

The estimate is net of reinsurance and reinstatement premiums, and is based on an industry-wide insured loss of $25bn. However, the company warned that there is still significant uncertainty surrounding the industry loss, and estimates will be subject to revision as loss notifications are received and the picture becomes clearer.

Omega added that its own assessment of the Japan loss are at a very early stage.

In addition to the Japan earthquake loss, Omega estimates that the 2011 Quensland floods will cost it $7.6m and Fenruary's earthquake in Christchurch will result in a loss of $9.5m. Omega said these estimates are within previously estimated ranges.