Company hit by Tianjin explosion and Chile earthquake

Money handover

Global (re)insurer Validus expects to pay out net claims of $63.9m (£42m) from recent disasters.

The amount includes $43.9m for the 12 August explosion in the Chinese port of Tianjin and $20m for the September 16 earthquake in Chile.

The amounts are net of reinstatement premiums, reinsurance, retrocession and other recoveries.

Some $48m of the claims bill has emanated from Validus Re, while $15.9m has come from Validus’s Lloyd’s subsidiary Talbot.

Validus warned that the actual losses may differ from this initial estimate.