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23 May 2012

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XL and Arch announce Thai losses; XL suffers US cat creep

12 January 2012

Bermudian (re)insurers XL and Arch Capital have announced losses from the Thailand floods, with XL also confirming loss creep on US cat events from the second and third quarters.

XL said it was expecting claims from Thailand during the fourth quarter to cost between $135mn and $185mn - the largest estimate of the few Bermudians to report so far.

The estimate, which was pre-tax and net of reinsurance and reinstatement premiums, was based on a review of individual treaties and...

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