TOKYO (dpa-AFX) - Verisk Analytics, Inc. (VRSK) Monday announced that it estimates insured losses from the earthquake at Kumamoto, Japan to range from 220 billion Japanese yen to 340 billion yen, or around $1.4 billion to $2.1 billion.
The 6.8 magnitude earthquake that took place on July 28 near Kumamoto City on Japan's Kyushu Island caused a lot of damage within the city and across the prefecture. The impact was mainly in transportation networks such as railroads and highways. Around 48000 houses experienced power outages in the immediate aftermath.
According to the US Geological Survey, the earthquake occurred south of Kumamoto at a shallow depth of around 10 kilometers.
The strategic data analytics and technology provider to the global insurance industry noted that the earthquake also affected several semiconductor, electronic and automotive facilities, which temporarily suspended operations. Inspections and damage assessments were conducted, and there are concerns about supply chain disruptions.
Verisk noted that its insured loss estimates are dominated by damage from ground shaking.
The company continues to monitor impact from the earthquake and may provide later updates about it.
In the overnight activity on the Nasdaq, the shares were trading 0.08 percent higher at $195.00, after closing Friday's trading 2.75 percent down.
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