NU Online News Service, April 30, 1:16 p.m. EDT
Insured losses from the recent explosion of the Deepwater Horizon Drilling Platform in the Gulf of Mexico could reach $1.5 billion, according to Transatlantic Holdings, Inc.
Mike Sapnar, chief underwriting officer for domestic operations for New York-based Transatlantic, an international reinsurance organization, said during the company's first-quarter 2010 results conference call, that he expects Transatlantic's losses to be less than 1 percent of industry losses.
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