Endurance takes $85m Rita hit
Bermudian (re)insurer, Endurance Specialty Holdings has announced its initial estimates of losses, net of reinsurance, reinstatement premiums, and tax benefits related to Hurricane Rita to be approximately $85 million. Endurance estimates its gross losses related to Hurricane Rita, before reinsurance, reinstatement premiums, and tax benefits, to be approximately $95 million.
The Bermudian (re)insurer said that its net and gross loss estimates are largely derived from a combination of its proprietary catastrophe modeling, standard industry models, a review of in-forceOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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