Bermuda-based PartnerRe (NYSE:PRE) has put out its initial estimate of US$25mn-45mn for claims related to Hurricane Gustav, the company said in a press release.
During the last week of August, Gustav intensified from tropical storm status to a category three hurricane as it moved across the Caribbean - Hispaniola, Jamaica, and Cuba - and the Gulf of Mexico before making landfall in the US on September 1 about 70 miles west of New Orleans, Louisiana. At landfall in the US, Gustav was a strong category two hurricane, the release said.
The estimate is before taxes and net of reinstatement premiums, according to the release.
"PartnerRe's loss estimate is based on the assessment of individual treaties as well as client data and is spread across the US, global (non-US) specialty and catastrophe subsegments," the statement said.
No comments:
Post a Comment