Allianz, Zurich Receive Tanjin-Related Claims After Multiple Huge Explosions in the Chinese Port

Posted by Joseph Keefe

Friday, August 14, 2015

 

The Chinese units of European insurers Allianz and Zurich Insurance Group said on Friday they received claims for unspecified damages from customer companies in the northeast city of Tianjin after two huge explosions in the port.
The pair said they are now assessing potential losses.
Zurich General Insurance Co (China) Ltd said in an email to Reuters that it received claims from companies including those operating in the property and cargo sectors. It didn't identify the companies involved.
Allianz said in an emailed statement it is still assessing its potential exposure to the blasts. "We can confirm that Allianz China General Insurance has exposures in the areas of property and marine clients," Allianz said, "however we are unable to furnish any further details at the moment."
Chinese official investigators were still searching for clues on Friday to identify what caused the explosions in an industrial area at the port on Wednesday night.