Bermuda-based (re)insurer Alterra estimates that its losses from Hurricane Irene and other third quarter events will be between $20m and $30m
The amount is pre-tax and net of reinsurance and reinstatement premiums. Alterra said its losses from first half 2011 global catastrophes continue to be within previously announced ranges.
The loss estimates are based on proprietary modelling analyses, industry assessments of exposure, claims information obtained from Alterra’s clients and brokers to date, and a review of in-force contracts. The company warned that ultimate losses may differ from these initial estimates.