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Munich Re forecasts net Thai loss of $670mn

8 December 2011

The industry's largest reinsurer Munich Re has estimated modest net claims of EUR500mn ($670mn) for the flooding in Thailand.

Unlike its peer Swiss Re, which on 6 December issued a net loss estimate of $600mn based on an industry loss of $8bn-$11bn, Munich did not issue an industry-wide loss range.

If the Munich and Swiss estimates are to hold it would have to emerge that the loss quantum is smaller than most observers are expecting, or that they are markedly...

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