Credit Suisse fund sees insurance losses ‘well below’ US$1 bln from Wellington quake

Wed, 24 Jul 2013

July 24 (BusinessDesk) - The 6.5-magnitude earthquake in Cook Strait last Sunday isn’t expected to lead to big insurance losses, which global financial services firm Credit Suisse expecting it to come in below US$1 billion. Credit Suisse has told investors in its insurance-linked strategies fund, CS IRIS Low Volatility Plus Fund, that the quake was further away from dense populations and lacked the ground acceleration of the 2011 Canterbury quake, according to fund investor DCG IRIS, a unit of financial services firm Dexion Capital. “Given...

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