Dig­i­cel pre­par­ing $50m hur­ri­cane in­sur­ance claim

The Irish Times - Business - - NEWS - JOE BREN­NAN

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.

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