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News - Catlin Group revises hurricane losses.
(From Reinsurance)
Catlin Group has completed its initial estimate of losses arising from Hurricane Wilma, and has reviewed its loss estimates for hurricanes Katrina and Rita.
The company estimates its losses from Hurricane Wilma to be approximately $45m, net of reinsurance. There has been no material change to the estimated net loss of approximately $60m from Hurricane Rita previously advised to the market.
On 19 October 2005, Catlin affirmed its loss estimate for Hurricane Katrina of $275m gross and $125m net of reinsurance. That estimate was consistent with a market loss of $40bn. Since that time, little detailed loss information has emerged.
However, according to Catlin anecdotal information, loss advices on individual inwards reinsurance contracts and ...
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