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22 May 2012

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RSA reveals mammoth £1.2bn Chile losses

5 August 2010

UK insurer RSA has disclosed a £1.2bn gross loss on the Chilean earthquake disaster as part of its first-half results released today (5 August).

But the group - which is one of the largest general insurers operating in the South American country - has maintained its £30mn net loss estimate of the event, because it is confident that its large cat reinsurance programmes and fac protection will fully absorb the loss.

The insurer has two main treaty programmes providing over...

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