Validus Expect $70M Loss From Europe Floods
Bermuda-based Validus Holdings said they expect the floods in central Europe in May and June will cost the company about $69.6 million.
Validus said they expect to record a net negative financial impact from this event, net of reinstatement premiums and reinsurance, retrocessional and other recoveries in the amount of $69.6 million. This amount is apportioned between Validus’ operating segments as follows:
Validus has estimated the industry losses from this event to be between $4.0 billion and $5.0 billion.
