NU Online News Service, Feb. 28, 11:19 a.m. EST
Flagstone Reinsurance Holdings said losses from natural catastrophes in Australia during the first quarter are expected to be between $60 million and $80 million, while Validus Holdings said last week’s Christchurch, New Zealand earthquake could cost the company between $25 million and $50 million.
Validus said its preliminary loss estimate for the quake is based on commercial catastrophe model vendors and the company’s analysis. The company noted that this event will produce greater losses for it than last year’s 7.1 magnitude earthquake in New Zealand.
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