Munich Re estimates its Katrina loss at €400m ($488m)
Munich Re has put a figure of $15bn-$20bn on the one hundred percent insured loss arising from hurricane Katrina and estimates it will end up paying €400m ($488m) for its share.
The company’s shares reacted strongly to the news, and other reports that the financial hit from the hurricane was unlikely to blow the reinsurer off course from its stated 12% return on equity targetOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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