Bermuda-based ACE Group of Companies announced today its estimated third quarter catastrophes losses, net after-taxes, including Hurricanes Gustav and Ike, will amount to approximately $315 million, including reinstatement premiums.
At the same time, Bermuda-based Everest Re Group, Ltd. said that its preliminary loss estimates for Hurricanes Gustav and Ike are expected to range between $200 million and $220 million, net of reinstatement premiums and taxes.
The firm said it based the estimate on underwriters' analyses and judgments, client input and discussion, event modeling and profiling of exposed limits.
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