Catlin Group Limited announced that, “based on total insured losses from the New Zealand earthquake of US$5.5 billion to US$6 billion, its loss amounts are approximately US$45 million, net of reinsurance and reinstatements.
The revised estimate increases Catlin’s previous exposure by around US$10 million.
Catlin explained that its “estimate is based on information obtained to date from brokers and clients, a comprehensive review of direct insurance and reinsurance contracts, and information derived from catastrophe modeling analysis.
“The vast majority of the loss arises from property treaty reinsurance contracts written by the Group’s London/UK and Bermuda underwriting hubs.”
Source: Catlin Group
Topics USA Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Wall Street Banks Try Out Anthropic’s Mythos 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
California AG Opposing Oil Pipeline Special Permit to Waive Safety Regulation 
Lululemon Slips as Texas Announces Probe of ‘Forever Chemicals’ 
