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Hannover Re Estimates Its Losses from New Zealand Quake at $209 Million

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Posted on 04 Mar 2011

Hannover Re anticipates a net loss burden of some EUR 150 million ($209 million) for the earthquake in the New Zealand city of Christchurch on 22 February 2011.

The estimate is based on an insured market loss in the order of NZD 10 billion ($7.42 bilion). Even if this figure rises, Hannover Re's loss expenditure will not increase on account of its retrocession structure.


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