NU Online News Service, March 31, 3:05 p.m. EDT
Zurich Financial Services Group says it expects approximately $500 million in claims from 2011 first quarter Asia-Pacific catastrophes.
The estimates, based on preliminary reviews, are before tax and net of reinsurance.
The multi-line insurer says the losses include January floods in Australia, Cyclone Yasi, the February New Zealand earthquake and the March Japan earthquake and tsunami.
The company says a full loss assessment and ultimate cost "will take time to complete due to the extreme nature of the losses and the limited access to the damaged areas particularly in Japan but also in New Zealand.
Zurich expects to release its first quarter results on May 5.
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