|PR Newswire Association LLC|
Within the Reinsurance segment, the loss estimate is comprised of approximately 20% for Marine and 80% for Property Reinsurance, including catastrophe treaty, per risk treaty and facultative exposures. Within the Insurance segment, the loss estimate is comprised of approximately 15% for Specialty lines, including Marine, Fine Art and Specie, and 85% for Property. This loss estimate is in line with the Company's expectations given the potential size of this event to the insurance industry as commented on by the Company during its third quarter earnings call on
The Company's estimate is based on its review of individual treaties and policies expected to be impacted, along with available client data. This preliminary estimate involves the exercise of considerable judgment. Given that the facts are still developing, as well as the complexities of the nature of the event, there is considerable uncertainty associated with the loss estimate of the event and such estimate is accordingly subject to revision as additional information becomes available. Actual losses may differ materially from this preliminary estimate.
This press release contains forward-looking statements about the estimated impact of