Catastrophes cost Endurance $60 million – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Catastrophes cost Endurance $60 million

Bermuda-based re/insurer Endurance Specialty Holdings Ltd today estimated losses of $60 million for catastrophes that happened in New Zealand and Australia earlier this year.

The company said floods which occurred in Queensland, Australia, in January would cost it around $15 million, while losses from last month's deadly earthquake in the area of Christchurch, New Zealand, would total around $45 million.

Endurance believes its losses related to Cyclone Yasi are not material.

Endurance has started the process of estimating its expected claims from the earthquake and tsunami that hit northeastern Japan last Friday, but added it was too early to give an estimated loss figure.

Damage in Christchurch, New Zealand, following last month's earthquake.

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Published March 17, 2011 at 12:47 pm (Updated March 17, 2011 at 12:46 pm)

Catastrophes cost Endurance $60 million

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