Allied World Assurance Company Holdings said it expects to record losses of between $30 million and $40 million from the Feb. 22 New Zealand earthquake.
The prediction is pre-tax and net of reinsurance recoverables, said the Switzerland-based insurer and reinsurer. The company said the estimate could be modified since the preliminary data currently available to come up with the estimate may change.
Catastrophe modeler AIR Worldwide said losses from the magnitude 6.3 earthquake in Christchurch, New Zealand are expected to be between NZ$5 billion (US$3.5 billion) and NZ$11.5 billion (US$8 billion).
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