Reinsurers monitor Japan as earthquake strikes near Fukushima nuclear plant

Bermuda reinsurers will be on watch as a powerful earthquake with a magnitude of 6.9 has struck 35 kilometres from the coast of Tomioka, Japan, close to the Fukushima nuclear power plant.

According to the United States Geological Survey (USGS), the earthquake had a depth of around 11.3 kilometres and travelled a minimum distance of 75.8 kilometres.

The USGS had initially placed the magnitude of the earthquake at 7.3, but later downgraded it to 6.9.

The Japan Meteorological Agency has said that no major tsunami warnings are currently in effect, however, slight-sea level changes may be observed in coastal regions.

It is too early to assess the full extent of the damage.