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.
Hannover Re Estimates Its Losses from New Zealand Quake at $209 Million
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.
Published on March 4, 2011
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