LONDON Dec 14 Lloyd's of London
insurer Beazley expects a net loss of $90 million from
superstorm Sandy which ravaged New York and New Jersey in
The British insurer's estimated loss was based on market
losses of around $20 billion and the majority of claims being
covered by catastrophe margins, it said on Friday.
Beazley expects a full-year 2012 combined ratio in the low
90s percent , it also said.
Sandy is forecast to have caused insured losses of up to $25
billion, a figure that excludes flood losses insured by the U.S.
federal government and not by private industry.