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.

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