Disaster claims to reach $43m, insurers say

China's insurance companies are expecting to pay out about 300 million yuan ($43 million) in claims relating to the earthquake, the insurance regulator said yesterday.

"As reconstruction work gets under way in Sichuan, the number of insurance claims is expected to soar," Wu Dingfu, chairman of the China Insurance Regulatory Commission (CIRC), said.

Figures from the CIRC show that as of Wednesday, insurance companies had paid out 50.4 million yuan in claims, of which 42.97 million yuan is related to life insurance and 7.47 million yuan to property and medical insurance.