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RenaissanceRe likely to incur $625 million in catastrophe losses


Kevin O'Donnell, chief executive officer of Bermuda-based RenaissanceRe Holdings Ltd., said that the reinsurer expects to incur catastrophe losses of $625 million for the third quarter related to three hurricanes and an earthquake, The Royal Gazette reported. RenaissanceRe is likely to incur a loss of $225 million related to hurricane Harvey, $175 million for hurricane Irma and a combined loss of $225 million for hurricane Maria and the Mexico City earthquake.

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