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Montpelier Reports Its Initial Loss Estimate From Sandy
HAMILTON, Bermuda – 11 December, 2012 - Montpelier Re Holdings Ltd. (the “Company” or “Montpelier Re”; Ticker: MRH.BH) announced its initial loss estimate from Superstorm Sandy.
Montpelier currently estimates its pretax net loss incurred from Superstorm Sandy in the fourth quarter will be approximately $95 million, which is net of reinsurance recoveries and reinstatement premiums.
This initial loss estimate is based on a combination of Montpelier’s proprietary CATM modeling analysis, an underwriting assessment of in-force contracts and a limited number of loss advices received from clients. Because of the uncertainties associated with the various inputs to the estimate, Montpelier’s actual losses may differ significantly from the estimate.
Montpelier, through its operating subsidiaries, is a premier provider of global property and casualty reinsurance and insurance products. Additional information can be found on our website located at www.montpelierre.bm, or in Montpelier's public filings with the Securities and Exchange Commission.
Montpelier Re Holdings Ltd.
Investors:
William Pollett, +1-441-299-7576
SVP, Chief Corporate Development and Strategy Officer and Treasurer
or
Media:
Jeannine Menzies, +1-441-299-7570
Corporate Affairs Manager