Montpelier Re Estimates Q3 Losses: $30M
Montpelier Re Holdings Ltd. announced a preliminary estimate of third quarter pretax catastrophe losses.
The estimate comprises $30 million from US events including Hurricane Irene and the Texas wildfires, $20 million from US regional aggregate covers and $10 million from the July Danish floods.
In addition, the Company now estimates it will incur $10 million of net losses from the June 2011 New Zealand earthquake. All of these amounts are net of retrocessional recoveries and reinstatement premiums.
The Company reiterates that in view of the uncertainties associated with preliminary estimates, its actual losses may differ, perhaps significantly, from these amounts.
