Arch Estimates Sandy’s Cost At $170-240M
Bermuda-based Arch Capital Group Ltd. announced that its preliminary estimate of losses relating to Storm Sandy ranges between $170 million and $240 million, net of reinsurance and the effects of reinstatement premiums.
This preliminary loss estimate is based on projected industry insured losses ranging from $20 billion to $25 billion. The losses from the storm are currently estimated to arise approximately 40% in our insurance operations and 60% in our reinsurance operations.
