Insurance companies paid 91 billion yen until the end of May due to the Noto earthquake in Japan

Insurers had paid 91.0 billion yen ($570.3 million) across about 103,439 claims by the end of May following the January 1 earthquake in Japan's Noto Peninsula, according to the latest industry data released.

The association said in its statement that this number includes numbers from the General Insurance Association of Japan (GIAJ) and the Japan Foreign Non-Life Insurance Association.

The organization last announced payments worth 84.9 billion yen on 94,728 claims through the end of April.

The preliminary tally showed that the 2024 Noto Peninsula earthquake ranks sixth in the Japanese earthquake classification by claims paid for housing risks, compared to the event classification previously released by GIAJ.

But the 91.0 billion yen tally is still well short of the podium finish at 72% of what it takes to get into the top five or 36% of what it takes to get into the top four.

On January 1, Japan was hit by a 7.6-magnitude earthquake on the Noto Peninsula on the west coast of the main island of Honshu, followed within an hour by nine additional earthquakes above 4.0 meters on or near the peninsula to begin several days of aftershocks. According to the Japanese. The Meteorological Agency reported.

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