The Bermuda-based Catlin Group Limited announced a preliminary estimate of the financial impact of the February 22nd earthquake, which occurred near Christchurch, New Zealand, of approximately US$125 million, net of reinsurance and reinstatements.
The magnitude-6.3 earthquake resulted in more than 150 deaths and caused significant damage to residential and commercial property.
Catlin cautioned that the estimate “is subject to material uncertainty. It will be many months until the total amount of insured damage and Catlin’s claims arising from this catastrophe can be estimated with precision.”
Source: Catlin Group
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Updated: 6 Killed in Private Plane Crash at Maine Airport 
Owner of Assisted Living Home Where 10 Died in Fire Denied Access to Insurance Funds 
Hot Sauce Company Sues Manufacturer Over Exploding Bottles 
Kin Moves Into Florida and Texas With Home-Auto Bundle Products 
