Insured losses from Beirut blast seen around $3 billion: sources

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Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say.

FILE PHOTO: A soldier stands at the devastated site of the explosion at the port of Beirut, Lebanon August 6, 2020. Thibault Camus/Pool via REUTERS/File Photo

“Drawing a comparison with Tianjin, you will see significant insured losses,” said Ghislain Le Cam, director, analytics at AM Best. Munich Re said this week the explosion would likely result in big claims, but it could not yet give an estimate. In Beirut, the blast destroyed Lebanon’s only large grain silo. Lebanon, a nation of an estimated 6 million people, imports almost all of its wheat.

 

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Has a president in recent memory stirred such hate and controversy?

Hezbollah is destroying Lebanon and nobody cares, and the media keeps posting empty and fake news about it.

Despite all this and still every official in this hospice is in his place from the president to the lowest responsible!Lebanese lost their compass thus no one ever could help them!!!!!!!

How many died? Injuried? How are the injured recoveries coming along? Does Beirut have a plan to rebuild? Are new measures being taken to assure the people that type of incident wont happen again? All of these far more important than the monetary value.

That’s : 5.330.620.700.037.124 Lebenase pound...

Is anyone going to sue Hezbollah for the losses? Beirut Lebanon

Maybe larger credits from western nations could now help to weak the grip of Hezbollah on Lebanon and shift the public opinion in a more favorable view for the US and EU

good luck getting paid

All this distraction only $3bb? No way.

Why on earth explosive material was stored over there !!

Was there actually something worth insuring in Beirut?

Had to research the insurance companies AXA — France Allianz — Germany Who else may have insured this area in Lebanon?

a case of karma three decades in the making? don't ever forget the hundreds from the 8th Marine Regiment killed by explosives in Beirut 1983

So so sad such a waited of lifes .what disgusting ppl can actually do and we all know who done it .wake up ppl

Do we know which aid organizations are coordinating emergency food and housing services? I'm concerned about the humanitarian impact on a country dependent upon food imports that now has no functional port.

What about the rest? Infrastructure, businesses ruined...... The economic hit will be far far greater, and Lebanon was already in an economic and financial crisis.

That’s it

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