Validus Holding, Ltd. said it expects its insured losses from Hurricanes Ike and Gustav to amount to $185 million, adding that it believes industrywide losses from Ike could be $4 billion higher than estimated.
The Hamilton, Bermuda-based insurer broke down the losses by segment, with Ike producing the highest loss at $165 million, and Gustav totaling $20 million.
The company said its reinsurance segment stands to lose $124 million, offshore energy could lose $44 million, and its insurance could see losses of $17 million.
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