Renaissance Re has $275m exposure to US hurricanes Gustav and Ike
Bermuda-based reinsurer Renaissance Re said that it currently estimates that Hurricanes Gustav and Ike will have a combined net negative impact on the Company's third quarter results of approximately $275m, with the majority of these estimated losses attributable to Hurricane Ike.
It added that it has direct holdings of fixed maturity securities issued by Lehman Brothers Holdings and its subsidiaries of $8.7m (par amount) within its fixed maturity investment portfolio.
The
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