Montpelier Estimates Japan Loss: $126 Million
Bermuda based re/insurer Montpelier Re Holdings Ltd. announced a preliminary estimate of losses from the March 2011 earthquake and tsunami in the Tohoku region of Japan.
Montpelier currently estimates its pretax net loss from the Japanese earthquake and tsunami will be approximately $126 million, which is net of retrocessional recoveries and reinstatement premiums and assumes a U.S. $25 billion industry loss.
In view of the uncertainties associated with this preliminary estimate, Montpelier’s actual losses may differ, perhaps significantly, from this estimate.
