The target hall is a property owned by Russian businessman Araz Agalarov (French)
Insurance experts expect financial losses from the recent attack on Russia's Crocus City Hall to exceed more than 10 billion rubles ($108 million), with investigations and settlements likely to extend over two years, according to information obtained by Russia's TASS agency.
"The actual monetary impact is estimated to exceed 10 billion rubles, but the exact size of the insured losses remains uncertain, as it is likely to be lower. The investigation and subsequent settlement proceedings may last up to two years," an insurance agent told TASS. It confirms the extent of the damage.
The target hall in Russia opened its doors in 2009 (Reuters)
TASS said that insurance companies may start making advance payments, according to insurance market participants.
The attack occurred on March 22, when gunmen targeted the concert venue, which is located outside the suburbs of Moscow.
The attack left 140 dead, while the number of wounded rose to 360. The authorities arrested 11 people, including 4 suspected of carrying out the attack.
The target hall opened its doors in 2009, and is a property owned by Russian businessman Araz Agalarov.
The businessman revealed that $70 million had been pumped into building the concert hall, which includes more than 9,500 seats.
Source: Russian press