Bermuda-based PartnerRe Ltd. on Tuesday estimated that claims relating to its exposure to the earthquake and resulting tsunami in Southeast Asia on Dec. 26, 2004 are expected to be between $25-$35 million.
PartnerRe President & CEO Patrick Thiele said, “This event is an
unprecedented human tragedy, with the extraordinary loss of life and
widespread devastation across the region representing what has become one of the worst natural disasters in recent history. On behalf of all of PartnerRe, I express our deepest sorrow over the significant loss of life and our sympathies go out to all those who have been affected by this terrible tragedy.”
PartnerRe’s loss estimate is based on the assessment of individual
treaties and is spread across most segments, particularly Worldwide Specialty, Global P&C and Life.
In addition to property losses, exposure is concentrated in the personal accident, life, and marine lines of business.
Topics Mergers & Acquisitions Catastrophe Natural Disasters Claims
Was this article valuable?
Here are more articles you may enjoy.
AI’s Water Strain Includes Surging Demand From Electricity Use 
All in the Family: Husband, Wife and Daughter Indicted for Insurance Fraud and Bribery 
AI Bubble Risks Worst S&P 500 Crash Since 2008, Strategist Says 
NYC Restaurants Shut Off Air Conditioning, Close on Sundays as Costs Surge 
