As rescue and recovery efforts continue across the regions hit hardest by last week’s earthquake and tsunami in Japan, the leading rating agencies are offering their own assessments of insurers’ potential losses.
A.M. Best,Fitch Ratings, Moody’s Investors ServiceandStandard & Poor’s (S&P) all issued initial assessments, along with cautionary statements this week due to the yet-to-be-determined losses incurred by a potential nuclear disaster. As of this writing, Tokyo Electric Power Co., locally known as Tepco, is battling to prevent a nuclear catastrophe at its Fukushima plant 220 kilometers (135 miles) north of the capital.
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