Munich Re has revised its estimate for total insured market loss from Katrina to a figure up to $30bn.

The company said that this figure does not include the flood and storm-surge losses covered under the National Flood Insurance Program.

Munich Re said that based on this estimate its own loss could be in the region of €1.1bn gross. In the case of a higher insured market loss, which other institutions estimate to be up to $60bn, there could be a gross loss burden of some €1.3bn.

Munich Re put its insured market loss from Hurricane Rita at $5bn–10bn. For the Munich Re Group, the gross loss to be expected from this would be of up to €230m.

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