Endurance faces tornado losses of up to $55mn
Bermudian (re)insurer Endurance Specialty will take a $45 to $55mn loss from the April tornado activity that swept through the southern US states of Alabama, Arkansas, Georgia and Virginia.
Endurance says the losses mostly relate to its catastrophe reinsurance business written for regional homeowner and farm mutual insurance companies.
The pre-tax loss estimate is net of reinsurance and reinstatement premiums. The firm cautioned that there have only been limited claims so far from the storms, so its actual losses might...
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