The number of carriers announcing substantial revisions to their initial insurance loss estimates from Hurricane Ike now totals 11, Guy Carpenter reported.
The latest to come forward are Swiss Re Group and Aspen Insurance Holdings Ltd. Swiss Re has increased its estimates by 64 percent, and Aspen upped its estimate by 23 percent.
David Flandro, Guy Carpenter senior vice president, said, “In terms of insured losses of this magnitude, this has to be among those with the greatest variance between the initial estimate and actual outcome.”
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