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Everest Re: Thailand floods could cost up to $125M

Reinsurance company Everest Re Group Ltd. on Thursday said that claims related to the massive flooding this year in Thailand could cost it $100 million to $125 million after certain premiums and taxes.

By Associated Press | Updated on December 23, 2011

NEW YORK (AP) — Reinsurance company Everest Re Group Ltd. on Thursday said that claims related to the massive flooding this year in Thailand could cost it $100 million to $125 million after certain premiums and taxes.

Bermuda-based Everest Re said the estimate is preliminary and could vary. It will take several months before the final total is clear, Everest Re said. Its estimate is based on an industry-wide loss estimate of $10 billion to $15 billion.

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