Three Bermuda-based insurers have announced their expected losses from Superstorm Sandy as fourth-quarter earnings announcements near.
PartnerRe Ltd. leads the most recent group of companies letting investors know of catastrophe losses. The reinsurer says late-October's Sandy will result in a pretax charge of between $200 million and $240 million, after retrocession and reinstatement premiums, in its fourth-quarter results.
A statement from the Pembroke, Bermuda-based company says most of its losses will come from commercial-line exposures, as catastrophe treaties, property per-risk treaties, marine trine treaties, engineering treaties and facultative policies were impacted by Sandy.
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