Montpelier Re: $75 to $100 in Chile Quake Claims

March 16, 2010

Another Bermuda based reinsurance company has announced estimated losses from the Chilean earthquake and international windstorms.

Montpelier Re Holdings Ltd expects less then $10 million in claims from the European and Australian hailstorms, and projects losses of $75 million to $100 million for the Chile earthquake.

NASA reports that the magnitude 8.8 earthquake in Chile may have shortened the length of each day up to 1.26 microseconds as it was so powerful it shifted Earth’s axis.

Chile Faces Major Destruction After Massive 8.8 Earthquake

Montpelier’s estimates are pretax and net of reinstatement premiums. In view of the uncertainties associated with this initial estimate, particularly the limited number of loss advices received from clients to date, actual losses may differ significantly from the estimate.

2010 Earthquake/Storm Estimates Given by Bermuda Based Reinsurers to date exceed a billion dollars:

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