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Omega expects £25m losses so far this year

first_img KCS-content Tuesday 12 April 2011 8:05 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads Tags: NULL Omega expects £25m losses so far this year whatsapp Sharecenter_img whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Show Comments ▼ CATASTROPHES in the first three months of 2011 are expected to cause losses of $40.7m (£25m) Lloyd’s insurer Omega Insurance, said yesterday.Omega believes losses from Japan’s dual earthquake and tsunami catastrophes will reach $23.6m, but stressed that the “significant uncertainty surrounding the total market loss of this event” meant it was hard to assess the final cost of the disasters. It based its estimate on a $25bn global loss from the two disasters, and said its losses were net of reinsurance and payments needed to reinstate its reinsurance protection. The floods that devastated Queensland in Australia in January will cost it $7.6m in losses, while the earthquake to hit Christchurch in New Zealand in February will cost it $9.5m, it said. The losses also mean it has foregone $5m of managing agency profit commission on the events, it said. last_img read more