Hannover Re anticipates a net loss burden of some EUR 150 million for the earthquake in the New Zealand city of Christchurch on 22 February 2011.
Hannover, 4 March 2011:
Hannover Re anticipates a net loss burden of some EUR 150 million for the earthquake in the New Zealand city of Christchurch on 22 February 2011.
The estimate is based on an insured market loss in the order of NZD 10 billion. Even if this figure rises, Hannover Re's loss expenditure will not increase on account of its retrocession structure.