LONDON (Reuters) – Three of the Lloyd's of London insurance market's leading players owned up to a combined loss of about $375 million from superstorm Sandy and warned the final bill could change.
Bermuda-based insurer Catlin, operator of Lloyd's biggest syndicate, is set to absorb about $200 million in claims from Sandy, it said on Tuesday. Rivals Hiscox and Novae put their exposure at 90 million pounds ($145.79 million) and between $25 million and $30 million respectively.
Sandy, a 1,000-mile wide storm that killed 132 as it swept through the north-eastern United States on Oct. 29, is expected to cost insurers up to $25 billion, making it the second-costliest storm after hurricane Katrina in 2005.
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