W.R. Berkley Corp. says it expects between $40 million and $50 million in pretax losses from Superstorm Sandy.
The short statement from the Greenwich, Conn.-based commercial insurer adds that its estimate takes into account reinsurance and reinstatement premiums.
W.R. Berkley's prediction of Sandy-related catastrophe losses is far below some of its peers.
XL Group yesterday announced it expects a loss of $350 million from Sandy.
Also this week, Chubb Corp. put a $570 million after-tax price tag on Sandy; Hartford came in with expected losses of $370 million; and Hanover checked in with a loss range of between $120 million and $140 million from the late-October storm, which brought strong winds and storm surge to the Northeast.
Catastrophe modelers say Sandy could cause up to $25 billion in losses for the insurance industry.
American International Group (AIG) put losses at an estimated $1.3 billion, after tax and net of reinsurance.
Allstate Corp. says it expects $1.08 billion in pretax catastrophe losses for the month of October, primarily due to Superstorm Sandy.
Travelers Cos. released a preliminary estimate of net losses related to Sandy of about $650 million.
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