Germany’s Talanx AG announced that its estimated net claims burden related to hurricane “Sandy” are approximately €306 million [$410 million] for the entire Group.
The estimate includes the total burden of €261 million [$349 million] of estimated losses announced by Hannover Re.
“Due to the very moderate occurrence of major losses in 2012, Talanx Group’s budget for claims of this kind is sufficient,” said the announcement. “Therefore, the effect of hurricane ‘Sandy’ on Talanx Group’s full-year results remains in line with expectations. Talanx will publish its Group Annual Report for the financial year 2012 on 21 March 2013.”
Source: Talanx Group
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Jury Finds No Gun Defect, Sides With Sig Sauer in Unintended Discharge Case 
Seven People Charged in $100M Workers’ Compensation Fraud Operation in Florida 
UnitedHealth Investor Suit Alleges Security, Governance Lapses 
Thoma Bravo to Take Accelerant Private in $4 Billion Deal 
