Companies undertaking global construction projects can manage their risk more effectively by working with an insurance provider positioned to address their unique needs worldwide.
Spotlight on Africa: Opportunities Abound but Growth Also Presents Risks
Insurance Choices for Multinationals Vary
Clients in Conflict Areas: Mitigating Risks through Partnership
Spotlight on Latin America: Opportunities Abound Despite Challenges
NEW YORK -- Reinsurer Endurance Specialty Holdings Ltd. said Friday that it estimates its pretax losses related to Superstorm Sandy at $160 million.
The Bermuda-based property and casualty company said that about $125 million of the losses are related to the company's reinsurance segment, while the rest are from its insurance business.
Endurance said the preliminary loss estimate is net of reinsurance and reinstatement premium. It's largely derived from a combination of catastrophe modeling, a review of its contracts and initial indications from clients and brokers.
The company said its actual loss may ultimately differ significantly from the estimate as a result of the size of the storm, the complexity of the assessment of damages and the limited number of reported claims received so far.
Endurance shares fell 61 cents to $40.09 in morning trading.