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RMS Expects Insured Losses from Mexico Earthquake Will Not Exceed US$ 1.2 Billion
LONDON, U.K. -
September 25, 2017 -
Following the Puebla Earthquake which hit Central Mexico on September 19, 2017, RMS has made preliminary estimates of losses.
Economic shake losses will be between US$4 billion and $8 billion. This is based on current building damage information from the Mexican authorities. RMS has also analyzed data on ground motion, and examined how property exposures are distributed across the region.
Because of low insurance penetration rates across Mexico, particularly in residential lines, RMS expects that insured losses will not exceed $1.2 billion. This estimate accounts for shake-only insured losses to structures, contents and business interruption including the effects of liquefaction and landsliding. Post-event loss amplification is not expected to be a significant factor in these losses.
RMS solutions help insurers, financial markets, corporations, and public agencies evaluate and manage catastrophe risks throughout the world. RMS has over 1,200 employees across 13 offices in the US, London, Bermuda, Zurich, India, China, Japan, Singapore and Australia - our products and models covering six continents.
We lead an industry that we helped to pioneer—catastrophe risk modeling—and are delivering models, data, and risk management solutions on the RMS(one)® platform to transform the world’s understanding and quantification of risk through open, real-time exposure and risk management.
Insurers, reinsurers, trading companies, and other financial institutions trust RMS solutions to better understand and manage the risks of natural and human-made catastrophes, including hurricanes, earthquakes, floods, terrorism, and pandemics.
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