Costa Concordia disaster 'to cost Hannover Re €30m'

Hannover Re has estimated marine hull losses in the region of €30m (£25m) from the wrecked cruise ship Costa Concordia.

The disaster is expected to result in the largest ever marine loss, costing insurers between $500m and $1bn (£326m-£653m), according to analysts.

Hannover Re said it was still too difficult to assess the extent of liability claims.

“The assumption is that a market loss running into triple-digit millions of euros could result,” the company said.

“The total loss for Hannover Re – as a leading marine reinsurer – could therefore be in the mid-double-digit million-euro range.”

The Costa Concordia was carrying 4,229 passengers and crew before running aground on 13 January near the island of Giglio, off the west coast of Italy.