NU Online News Service, March 15, 2:05 p.m. EST
Two insurance and reinsurance companies have provided loss estimates for the February 2011 New Zealand earthquake, with both companies basing their individual losses on expected industry losses upward of $12 billion.
Flagstone Reinsurance Holdings, based in Luxembourg, said it expects its losses from the quake to be between $60 million and $90 million, net of reinstatement premiums and retrocession. The company said it expects industry losses of between $8 billion and $12 billion.
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