Japan Quake May Cost Life Insurers $4.9 Billion, Moody’s Says

Japan’s worst earthquake on record may cause as much as 400 billion yen ($4.9 billion) in claims for life insurance companies, Moody’s Investors Service said.

“Life insurers with exposure to the region will be impacted by increased death claims, higher accident and health benefits, and lower revenues,” Neil Strauss, an analyst for Moody’s, said today in a research report. “Our view is that the companies will sustain moderate, but manageable, levels of losses.”