Endurance Estimates Losses at $60 Million
Bermuda based re/insurer Endurance Specialty Holdings Ltd. today announced that its initial loss estimate related to the floods which occurred in Queensland, Australia in January of 2011 is $15 million and that its initial loss estimate related to the earthquake which occurred in the vicinity of Christchurch, New Zealand on February 21, 2011 is $45 million. Endurance believes its losses related to Cyclone Yasi are not material.
Endurance has commenced the process of estimating its expected claims from the Japanese earthquake and tsunami, but said it is premature at this time to estimate its losses from this event.
