As more companies report estimated losses for the March 11 Japan earthquake and tsunami, a couple of Bermuda executives say that a market turn is beginning to occur.
Everest Re Group says it expects losses from the event to be about $320 million, assuming a $25 billion industry loss.
Aspen Insurance Holdings says its losses will be approximately $160 million, assuming a $30 billion industry loss. The company said the loss represents 5 percent of shareholders' equity as at Dec. 31, 2010.
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