Insurance underwriter Lancashire Holdings said that it has increased its estimated losses resulting from the floods in Thailand and the Tohoku earthquake in Japan.
Lancashire's estimated loss in the fourth quarter of 2011 to the floods in Thailand, after reinsurance and reinstatement premiums, has been set at between $24m and $28m. The company said it has no direct exposure to Thai flood losses emanating from the Japanese reinsurance treaty products, including the Japanese Interests Abroad placements.
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