RenRe Estimate $625M From Storms & Quake
Bermuda-based RenaissanceRe Holdings Ltd. said it anticipates an initial estimated net negative impact of $625 million from Hurricanes Harvey, Irma and Maria and the Mexico City Earthquake.
The Company currently estimates that losses from Hurricanes Harvey and Irma will have a net negative impact of approximately $225 million and $175 million, respectively, on its third quarter 2017 results of operations.
In addition, the Company currently estimates that the combined losses from Hurricane Maria and the Mexico City Earthquake will have a net negative impact of approximately $225 million on its third quarter 2017 results of operations.
Kevin J. O’Donnell, CEO of RenaissanceRe, commented: “We extend our sympathies to all those affected by these recent catastrophic events, and recognize their enormous human impact. As we have always done, we stand ready to help rebuild the many affected communities by serving our customers and paying claims.”
