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Liberty Latin America settles insurance claims for damages from hurricanes

Liberty Latin America Ltd. has settled insurance claims of $138.5 million for damages caused by hurricanes Maria and Irma.

Under an agreement with the third-party insurance provider in late December 2018, the company recorded third-party insurance proceeds of $108.5 million, after the deduction of $30 million of self-insurance, the company said Jan. 17.

Liberty Latin America has received net advance payments of $50 million from the third-party insurance provider, of which $45 million was provided to Liberty Puerto Rico and $5 million was provided to Cable & Wireless. Liberty Latin America expects to receive the remaining $58.5 million in the first quarter, which will mainly be split between Cable & Wireless and Liberty Puerto Rico.

Liberty Latin America is a telecommunications company operating in more than 20 countries across Latin America and the Caribbean.