Japan’s decision to bar spectators from the Tokyo Olympics is likely to cost the global reinsurance sector $300 million–$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… Continue reading Olympics without Crowds to Cost Reinsurers $300M–$400M: Fitch
Tag: no spectators Olympics
Tokyo Olympics to Be Held Without Spectators During Covid-19 State of Emergency
The Tokyo Olympics will be held without spectators, the organizers said, after Japan declared a new state of emergency that will continue through the end of the Games due to a rise in Covid-19 infections. Hundreds of athletes and officials from around the world have already arrived for the Olympics, which open on July 23.… Continue reading Tokyo Olympics to Be Held Without Spectators During Covid-19 State of Emergency