21 April 2018

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Ecuador quake losses $575mn says Fedeseg

21 April 2017

Eventual insured losses as a result of last year's powerful Ecuadorian earthquake are likely to be some $575mn, according to the country's insurance association.

The Ecuadorian Federation of Insurance Companies (Federación Ecuatoriana de Empresas de Seguridad or Fedeseg), said that, a year after the earthquake struck, 35,764 claims have been paid for $422.1mn, with some 4,099 requests pending, equivalent to $153.3mn.

Therefore, so far 90% of the claims have been covered, corresponding to 73% of total payments. Fedeseg suggested that...

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