In a brief announcement the U.K.-based insurer Royal & SunAlliance said its provisional estimates of claims resulting from Hurricane Katrina were around 25 million pounds ($46 million), net of reinsurance recoveries.
R&SA added: “The losses are expected to arise in the Group’s Marine and Global and Risk Managed portfolios. The provisional loss estimate includes a very limited exposure from the Group’s US business following its restructure in 2003.”
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