SVB assumes £25m hurricane loss
Lloyd's managing agent SVB has given its provisional loss estimate from hurricane Katrina. It said its current expectation net of reinsurance and reinstatement premiums will be around £25 million - based on a market insured loss estimate of $40bn
In a statement, SVB said "the damage resulting from Hurricane Katrina is a major event for the insurance industry. The assessment of loss from a disaster of this nature is a complex process and willOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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