SONY RECOVERS FURTHER ¥4.2BN FROM INSURERS RELATED TO 2011 THAILAND FLOODING

Insurers paid out a further ¥4.2bn to Sony Corp in claims related to 2011 Thailand flood damage during the second quarter of this financial year, according to newly published figures. This equates to a payout of $39m. During the corresponding period in 2013, Sony received payouts of around ¥4.8bn ($48.8m) related to the floods. This followed a total payout of around ¥40bn during the 2012/13 fiscal year, which ends on March 31. The Thailand floods caused a double-digit billion dollar insurance loss during the fourth quarter of 2011. Seven major industrial estates were inundated as a result of the flooding, which remains one of the top ten costliest insured events on record. According to reinsurance broker Aon Benfield, the industry paid out more than $10.8bn related to the 2011 Thailand floods.