AXA Re, a member of AXA S.A., said it now estimates its Hurricane Katrina net losses to total about $200m before tax.
The estimate is net of reinsurance recoveries and reinstatement premiums and is based on available information, including an insurance market loss of $40bn to $60bn from the hurricane, the company said.
The reinsurer said the losses fall principally on its property and marine portfolios, both treaty and facultative.
