Company hit by Tianjin explosion and Chile earthquake
Global (re)insurer Validus expects to pay out net claims of $63.9m (£42m) from recent disasters.
The amount includes $43.9m for the 12 August explosion in the Chinese port of Tianjin and $20m for the September 16 earthquake in Chile.
The amounts are net of reinstatement premiums, reinsurance, retrocession and other recoveries.
Some $48m of the claims bill has emanated from Validus Re, while $15.9m has come from Validus’s Lloyd’s subsidiary Talbot.
Validus warned that the actual losses may differ from this initial estimate.