Counting the cost to Bermuda
Below is the list of insurers and reinsurers in Bermuda that have acknowledged exposure to claims related to the destruction of the attacks in the United States, along with their early estimates for the amount they expect to pay out where applicable.
Ratings agencies and analysts now expect the attack to cost insurers world-wide between $20 billion and $70 billion, making it the most expensive insured event to date. However it may take years for the full cost to become clear.
Bermuda Re/insurers
XL Capital: $600 to $700 million.
ACE: $550 million
Partner Re: $350 to $400 million.
White Mountain: UP to $175 million via its OneBeacon Insurance Group
IPC Holdings: $95 million.
Overseas Partners Ltd: $114 million
Trenwick: $50 and $75 million
IPC Holdings: $75 million
Everest Re: $75 million
Renaissance Re: $50 million
PXRE: $30 and $35 million.
Max Re: $5 million
ESG Re: $1 million
Total: low estimate: $2.225 billion high estimate: $2.280 billion
Minimal Impact
Stockton Re
Scandinavian Re
Annuity & Life Holdings
Imagine Insurance Company
Mutual Risk Management
Commercial Risk Re
Centre Solutions