23 May 2013

Hitachi property programme set for $800mn total loss

12 August 2011

The internationally placed property programme for technology giant Hitachi is expected to be a total loss that costs the market $700mn-$800mn, Inside FAC has learned.

An independent fac broker said he understood that the Aon Benfield-led Hitachi programme was due to be renewed in September but may have been extended.

Hitachi sustained extensive property damage from the Great Tohoku earthquake and tsunami that struck north-east Japan in March and is also understood to be expecting substantial business interruption losses.

The...

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