Endurance Specialty Holdings said that it expects loss to be $65m, pre-tax and net of reinsurance and reinstatement premium, due to the Chilean Earthquake and Windstorm Xynthia.
The company said that its loss expectation is preliminary and is derived from a combination of its proprietary catastrophe modeling, standard industry models, an in-depth review of in-force contracts and initial indications from clients and brokers.
According to the Endurance, to date, reported claims as a result of the Chilean Earthquake and European Windstorm Xynthia have been limited. Accordingly, the company’s actual losses may differ materially from the initial estimated losses.
Headquartered in Bermuda, Endurance Specialty Holdings is a provider of property and casualty insurance and reinsurance. Through its operating subsidiaries, the company writes property, casualty, healthcare liability, agriculture and professional lines of insurance and property, catastrophe, casualty, aerospace and marine, and surety and other specialty lines of reinsurance.