Endurance tips $65m costs

Bermuda reinsurer Endurance said its initial loss estimate from the Chile earthquake and European windstorm Xynthia, will be $65m, pre-tax and net of reinsurance and reinstatement premium.

“Endurance's loss estimate is preliminary and is largely derived from a combination of its proprietary catastrophe modeling, standard industry models, an in-depth review of in-force contracts and initial indications from clients and brokers,” it said.

“To date, reported claims as a result of the Chilean earthquake and European Windstorm Xynthia have been limited. Accordingly, Endurance's actual losses may ultimately differ materially from the initial estimated losses.”