Hurricane Sandy cost Catlin estimated 200m dollars

International specialty casualty insurer and reinsurer Catlin Group has announced it currently estimates its Sandy-related losses at approximately 200m dollars, net of reinsurance and reinstatements.

International specialty casualty insurer and reinsurer Catlin Group has announced it currently estimates its Sandy-related losses at approximately 200m dollars, net of reinsurance and reinstatements.

The storm system caused extensive damage to portions of the United States and Canada on October 29th.

A statement from the group reported that "this estimate is subject to a considerable degree of uncertainty due to the size of the storm system and the wide variety of damage it caused. The group anticipates that it will have a fuller understanding of the losses caused by the storm when it reports its 2012 full-year results."

MF

Recommended

The Burberry share price looks like a good bet
Trading

The Burberry share price looks like a good bet

The Burberry share price could be on the verge of a major upswing as the firm’s profits return to growth.
5 Oct 2022
3 emerging market dividend stocks to buy now
Share tips

3 emerging market dividend stocks to buy now

Professional investor Omar Negyal of the JPMorgan Global Emerging Markets Income Trust picks three of his favourite emerging market stocks for income …
4 Oct 2022
Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022

Most Popular

Should you take a 25% tax-free pension lump sum in instalments?
Pensions

Should you take a 25% tax-free pension lump sum in instalments?

Taking out a 25% tax-free lump sum sounds appealing but it might not be the best way to manage your pension
30 Sep 2022
Mortgage early repayment charges: are they worth the cost?
Mortgages

Mortgage early repayment charges: are they worth the cost?

With interest rates set to rise further in the months ahead, is it worth swallowing early repayment charges to refinance your mortgage today?
4 Oct 2022
Why the Bank of England intervened in the bond market
Government bonds

Why the Bank of England intervened in the bond market

A sudden crisis for pension funds exposed to rapidly rising bond yields meant the Bank of England had to act. Cris Sholto Heaton looks at the lessons …
30 Sep 2022