Chile to cost PartnerRe up to £213m

Bermuda reinsurer PartnerRe estimates its expected claims from the recent earthquake in Chile to be $220m-$320m (£147m-£213m) out of a total industry loss of $6bn-$10bn, and for Windstorm Xynthia to cost $40m-$70m out of an industry cost of $2bn-$4bn. The earthquake losses will be primarily within the global property and casualty; catastrophe; and Paris Re sub-segments.

A spokesman said: “PartnerRe's loss estimate is based on a top-down analysis as well as on model output, the assessment of individual treaties and client data, and is consistent with the company's market position in the region. This estimate is preliminary, as there is limited actual loss data. As additional information is received, particularly on potential structural damage in the capital of Santiago, we will update this estimate.”