3. Summery of the situation March 11 2011: Earthquake and tsunami in Japan No airports, subways and railway stations are closed
4. Consequences People died People lost their homes Destruction Explosion nuclear power plant Consequence: High number of claims Estimate of total cost: $ 15 bn - $ 35 bn 25 trillion Yen Total cost for insurance industry: $ 60 bn Advance global insurance prices?
5. Series of worldwide disasters: New Zealand Australia Japan Negative impact on reinsurers No coverage for nuclear disaster
6. Financing Speculations of selling foreign assets Record high yen Cash reserves Public funds Dividend from foreign equity and stakes Selling Japanese government bonds
7. Future Future is unsure Total cost Influence on reinsurers reserves Higher reinsurance rates for non-life insurers International higher rates for insurances Help from overseas insurers Munich Re: $ 2.1 bn Swiss Reinsurance Co: $ 1.2