Digicel preparing $50m hurricane insurance claim
Denis O’Brien’s Digicel telecommunications group is reportedly preparing to make up to a $50 million (€42.2 million) insurance claim for damages caused to its network and property across several Caribbean islands as a result of Hurricane Irma last month.
The final claim, payable by a number of specialist insurers in London, is expected to come to between $45 million and $50 million, the Insurance Insider reported yesterday.
A spokesman for Digicel declined to comment on the amount. However, the group said last month that its insurance is expected to cover the cost of damage, subject to customary deductibles. A significant portion of Digicel’s network in Anguilla and the Turks and Caicos Islands suffered “extensive damage” as a result of the hurricane, the company said at the time.
It also said that the markets affected by the hurricane represent 3 per cent of the group’s revenue.
Mr O’Brien set up Digicel in 2001 with a mobile licence in Jamaica. It now operates in 31 markets in the Caribbean, Central America and the Pacific islands.