NEW YORK (AP) — Reinsurance company Everest Re Group Ltd. on Thursday said that claims related to the massive flooding this year in Thailand could cost it $100 million to $125 million after certain premiums and taxes.
Bermuda-based Everest Re said the estimate is preliminary and could vary. It will take several months before the final total is clear, Everest Re said. Its estimate is based on an industry-wide loss estimate of $10 billion to $15 billion.
The flooding, which began in July and continues to affect the Asian nation, has so far resulted in damages of about $45 billion, according to World Bank estimates. The floods nearly halted the country's key automotive and computer parts industries, leading to severe downward revisions for Thailand's economic growth.
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