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Olympics Without Fans to Cost Reinsurers Far Less Than Cancellation: Fitch

July 13, 2021

Japan’s decision to bar spectators from the Tokyo Olympics is likely to cost the global reinsurance sector $300 million to $400 million due to payouts for ticket and hospitality refunds, Fitch Ratings says.

However, this is only 10%–15% of the amount reinsurers would have faced had the Olympics been cancelled, and its impact on earnings should be limited, leaving capital and ratings unaffected.

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