In a brief announcement the U.K.-based insurer Royal & SunAlliance said its provisional estimates of claims resulting from Hurricane Katrina were around 25 million pounds ($46 million), net of reinsurance recoveries.
R&SA added: “The losses are expected to arise in the Group’s Marine and Global and Risk Managed portfolios. The provisional loss estimate includes a very limited exposure from the Group’s US business following its restructure in 2003.”
Was this article valuable?
Here are more articles you may enjoy.
Insurance Gaps Leave Airlines Exposed as Iran Conflict Widens 
Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates 
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation 
Death and Destruction at Orlando I-4 Project But Punitive Damages Not Allowed 
