Partner and Aspen estimate European flood losses


Partner Re and Aspen Re are the latest Bermuda re/insurance players to release estimated losses from floods in Central Europe.

Partner expects losses to be between $50 million to $60 million. Partner also expects material losses related to flooding in Alberta, Canada. Any losses from the flooding will be reflected in second quarter 2013 results. The majority of losses are expected to impact the company’s catastrophe sub-segment, but will also affect other non-life sub-segments.

Aspen Re released a loss estimation of $59 million in pre-tax losses as a result of all second quarter 2013 events, including floods in Europe, Canada and India. According to Aspen: “The largest of these events, Central European flooding, accounts for approximately $31 million ($28 million after tax) of the total loss estimate.”

Partner Re, Aspen Re, European floods, flood losses, natural catastrophe

Bermuda Re