Amlin predicts £50mn-£70mn Thai loss; expands books at 1.1
Lloyd's (re)insurer Amlin estimates that losses from the floods in Thailand will cost it £50mn-£70mn, evidence that Lime Street underwriters may be facing a proportionately heavier bill from the event than their Bermudian rivals.
Amlin's estimate, based on a wide industry loss of between $8bn and $20bn, represents a mid-point loss of 4.1 percent of mid-year shareholders' equity.
Thus far, Bermudian (re)insurers have typically reported losses of between 1 and 2 percent of shareholder equity. The big four European (re)insurers...
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