XL estimates up to $185m in Thai flood losses
Created: Jan 12, 2012 07:00 AM (Updated: Jan 12, 2012 07:01 AM)
XL Group plc expects to take a hit of between approximately $135 million and $185 million from the Thailand floods in the fourth quarter of 2011Approximately two-thirds of these losses relate to the company’s insurance segment.In addition, the company announced additional losses of approximately $35 million related to catastrophe loss events during the first three quarters of 2011, including the second quarter 2011 US tornado activity and third quarter 2011 US windstorms and subsequent flooding.Arch Capital Group Ltd also announced yesterday loss estimates in the range of $35 million to $65 million from the Thai floods.Validus Holdings Ltd meanwhile forecast loss estimates of $55.5 million from the same event.