NU Online News Service, June 21, 11:35 a.m. EDT
The Chubb Corporation says it expects losses of between $250 million and $310 million, pretax, for April and May U.S. storms.
Additionally, Hamilton, Bermuda-based specialty insurer Alterra Capital Holdings Limited says its initial loss estimate for the April-May storms is between $18 million and $28 million, pretax and net of reinsurance and reinstatement premiums. Alterra says its estimate is based on an industry-wide loss estimate of between $11 billion and $18 billion.
A string of deadly storms struck a number of states, spawning destructive tornadoes in a number of states throughout the South, Midwest and even in Massachusetts.
Catastrophe-risk modelers put industry-wide insured losses from the late-April storms at between $2 billion and $6 billion.
Earlier this month modeler AIR Worldwide put an insured-loss range of between $4 billion and $7 billion from storms in May.
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