Catlin Group Ltd. (CGL.L), the international specialty property/casualty insurer and reinsurer, said it currently projects its Sandy-related losses at around $200 million, net of reinsurance and reinstatements. The storm system caused extensive damage to portions of the United States and Canada on October 29th.
This estimation is subject to a considerable degree of uncertainty due to the size of the storm system and the wide variety of damage it caused. The Group believes that it would have a complete understanding of the losses caused by the storm when it reports its 2012 annual results.
by RTT Staff Writer
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