converium sees frances loss below $20 million
Converium sees Frances loss below $20 million September 9, 2004 5:51am ET (Reuters)
ZURICH, Sept 9 (Reuters) - Converium expects gross losses from hurricane Frances, which hit the United States this weekend, to come in below $20 million, the Swiss reinsurer said on Thursday.
It also repeated its forecast of lower than $25 million gross losses from Charley, another hurricane which caused havoc in Florida earlier this summer.
"The total aggregated gross loss from both events is therefore estimated to be below $45 million," a spokesman for Converium said. End of Story
