Beirut port re-opened, with marine losses low

The economic damage to Beirut following the warehouse explosion in the port has been estimated at around US$15 billion, while the insured loss in the marine sector, for damage to ships, goods and the port itself, was likely to come to less than $250 million, reinsurance broker Guy Carpenter said. Overall insured losses – including property damage – from the explosion on 4 August could reach around $3 billion, claimed Reuters.