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AXIS Capital Holdings Estimates Cat Losses Up to $105 Million for 2Q

Source:: MarketWatch


Posted on 14 Jul 2011

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AXIS Capital Holdings Limited today estimated that the total net financial impact of the June 2011 aftershock in New Zealand and the series of severe weather events that occurred in the U.S. in April and May 2011 is expected to be $90-$105 million. These amounts are net of reinsurance coverage, tax and reinstatement premiums.

The net financial impact of the New Zealand aftershock is expected to be $30-$35 million. The net financial impact of the severe weather events that occurred in the U.S. during the second quarter is expected to be $60-70 million.