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International

Caribbean insurer expects up to $500 million in hurricane losses

October 17, 2017 Reprints

Netherlands Antilles-based National General Insurance Corp. N.V. expects to record a loss of up to $500 million from hurricanes Irma and Maria, Curacao Chronicle reported. "We are confident that the impact on Nagico's financials will not be massive and that our reinsurance coverage is sufficient," said Imran McSood Amjad, chairman of Nagico. The net account is protected by an excess-of-loss tower led by Swiss Re Ltd., Mr. Amjad said. Sources said that Nagico has more than $2.5 billion worth of total insured values on St. Maarten and Virgin Islands in the Caribbean.

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Caribbean insurer expects up to $500 million in hurricane losses

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