XL Tsunami losses estimated at $75m
XL Capital has announced that, based on initial loss reports and preliminary estimates, it expects pre-tax net losses arising from the tsunami that struck South Asia on December 26, 2004 of approximately $75 million. Approximately two-thirds of these estimated losses are expected to be attributable to XL’s insurance segment, with the balance attributable to its reinsurance segment.
The majority of expected losses relate to property exposure with marine, motor and personal accident exposures also affected.Separately, the Company has revised its estimate of expected net losses
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