18 July 2016 Insurance

Blue Capital estimates losses from Canada wildfires

Blue Capital Reinsurance Holdings has revealed its estimated losses stemming from a number catastrophes in the second quarter including the Fort McMurray wildfires in Canada, the convective storms in Texas and Europe and the Kumamoto earthquake in Japan.

Its initial estimate of the net negative financial impact in the second quarter is $5.1 million. Its estimated net loss and loss adjustment expenses is $5.8 million less reinstatement premiums of $0.7 million, the company said.

Blue Capital said its estimate is derived from a combination of its proprietary catastrophe modelling, standard industry models, a review of in-force contracts and preliminary indications from clients and brokers.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk