NU Online News Service, March 10, 12:18 p.m. EST
A magnitude 9.1 earthquake (revised from 8.9) hit off the east coast of Honshu, Japan at about 2:45 p.m. local time, and independent reinsurance brokerage firm Holborn said the economic loss from the earthquake in Japan will be twice that of last year’s quake in Chile.
“Most reinsurers will report a loss this quarter, and we now expect that many will have full-year loss for 2011,” Holborn said.
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