Catlin sees Chile exposure at $140m

25th Mar 2010 12:14

Underwriter Catlin put its initial estimate of the financial impact of the Chilean earthquake at $140m, but cautions that this is only a very preliminary figure because there is still so much uncertainty. The estimate is based on a total loss forecast of $6bn, with approximately two-thirds of its exposure stemming from the international property treaty reinsurance portfolio written in both London and Bermuda.Catlin added its exposure to Windstorm Xynthia, which caused damage to Western Europe on 27-28 February, will amount to less than $10m.Rival underwriter Amlin recently estimated its net loss from the Chile earthquake at between $142m and $165m.