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Christchurch earthquake: Bermuda insurers/reinsurers count the cost

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Bermuda-based insurers and reinsurers have written 51% of the claim liabilities for the September 6 Christchurch earthquake and 14% of claims for the Japan earthquake and tsunami.

Figures from the 22-member Association of Bermuda Insurers and Reinsurers says members wrote nearly $US62 billion ($57 billion) in global gross written premiums last year, continuing the marginal growth from 2007, when $US60 billion ($55 billion) was written.

The group covered 37% of reported claims liabilities for Europe’s Windstorm Xynthia and 38% of reported claims from the Chilean earthquake.