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Damage claims from tsunami to affect results of Thai insurers.
Jan. 6--In the wake of the devastating tsunami, isolated incidents of material damage to or total loss of domestic hotel resorts with catastrophe risk cover are likely to negatively affect the 2004-05 earnings of some Thai insurers, according to Standard & Poor's Rating Services.
Connie Wong, a Standard & Poor's spokeswoman, said it was still too early to quantify the ultimate losses for the insurance markets of the affected region including Thailand given the widespread damage and the current focus on rescue operations and basic survival.
But the US company said much of the losses in countries suffered in countries such as Thailand and Malaysia were ...
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Source: HighBeam Research, Damage claims from tsunami to affect results of Thai insurers.