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Jeffrey Bowman, CEO of Crawford & Company, discusses an unprecedented year of global natural catastrophes and the lessons claims organizations of all sizes can glean.

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.

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.

Two Bermuda-based insurers say catastrophes hurt their third-quarter earnings, with Everest Re reporting a 64 percent drop in net income and Montpelier Re posting a net loss.

The Hanover Insurance Group Inc. says it expects losses from second-quarter catastrophes to be between $145 million and $160 million before tax.

Everest Re Group has completed its earlier-announced acquisition of Topeka, Kan.-based managing general agency Heartland Crop Insurance for $55 million plus the agreed upon value of the net assets of Heartland.

Consolidation in the crop insurance sector continued as Everest Re Group, a Bermuda-based insurer, announced Wednesday that it has entered into discussions with Kansas-based Heartland Crop Insurance regarding a potential acquisition.

Net income was down for two reinsurers reporting 2010 third-quarter results, while profit for a specialty lines insurance and treaty reinsurance company returned to the black.