Figure is subject to "uncertainty"

Hannover Re anticipates a €250m loss in Japan, after retrocessions and before taxes.

The German reinsurer said the figure is based on its analysis of individual treaties but is “subject to considerable uncertainty”.

Hannover Re’s chief executive Ulrich Wallin said: “We shall assist and support our Japanese clients and, in our role as reinsurer, we shall play our part in shouldering the resulting burden.”

Hannover Re will provide more detailed information on the current financial year on 3 May 2011 in the context of its reporting on the first quarter.