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Specialty insurer Hiscox said it estimates its insured losses from Hurricanes Gustav and Ike will total $175 million, and also said it would expand the capacity of its Syndicate at Lloyd’s.

The Hamilton, Bermuda-based insurer said its estimate of the claims from Hurricane Gustav would amount to $25 million, and Ike would come in at $150 million. The figures are net of reinsurance and reinstatement premiums, the company said. Hiscox said the figures are based on industry loss estimates of $2.75 billion for Gustav and $17.5 billion for Ike.

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