XL estimates Hurricane Gustav and Ike losses
XL, the Bermuda-based (re)insurer, has predicted preliminary loss estimates, pretax and net of reinsurance and reinstatement premium, related to Hurricane Gustav range from approximately $30-35m, and estimates for Hurricane Ike of $165-235m.
$65-85m of that loss is attributable to insurance, the group said, and $100-150m is reinsurance losses. It added that the value of its investments related to collapsed US investment bank Lehman
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