China - CIB Staff Safe

13 May 2008

Paul Lam of UNIBA partners CIB in China reports that all CIB staff are safe and accounted for. This includes staff in the Chengdu office located about 100km from the epicenter of China's worst earthquake for 30 years.

The quake is, at the time of writing, estimated to have killed at least 10,000 people in Sichuan province on Monday, May 12th. Many mountainous areas remain cut off by landslides, power failures and the collapse of telephone networks. Strong rains make rescue attempts dangerous and difficult.

Insurers expect substantial claims as a result of the quake. IBA Partners across the world will be liaising with CIB to resolve quake related issues.