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Catastrophes cost Endurance $60 million

Damage in Christchurch, New Zealand, following last month's earthquake.

Bermuda-based re/insurer Endurance Specialty Holdings Ltd today estimated losses of $60 million for catastrophes that happened in New Zealand and Australia earlier this year.The company said floods which occurred in Queensland, Australia, in January would cost it around $15 million, while losses from last month’s deadly earthquake in the area of Christchurch, New Zealand, would total around $45 million.Endurance believes its losses related to Cyclone Yasi are not material.Endurance has started the process of estimating its expected claims from the earthquake and tsunami that hit northeastern Japan last Friday, but added it was too early to give an estimated loss figure.