UPDATE 1-Hannover Re sees Ike hit below 200 mln eur
(Adds more details, background, share price)
FRANKFURT, Sept 19 (Reuters) - Hannover Re (HNRGn.DE) expects net damage claims of less than 200 million euros ($290.1 million) from Hurricane Ike, the world's fourth-biggest reinsurer said on Friday.
Nonetheless it expected to remain within its full-year natural catastrophe budget of 10 percent of total net premiums it collects from customers.
Shares in Hannover Re were 10.7 percent higher at 25.87 euros as of 1220 GMT.
Hurricane Ike, which blasted the densely populated Texas coast and swept through Houston on Saturday, could trigger insurance claims between $8 billion and $18 billion, according to early estimates of the damage.
Ike, a massive hurricane that idled more than a fifth of U.S. oil production, came ashore at the barrier island city of Galveston as a strong Category 2 storm in the early hours of the morning with heavy rains and sustained 110 mph (175 kph) winds, the U.S. National Hurricane Center said.
But initial reports were that the damage was not as extensive as feared, with the Galveston and Houston ship channels spared the worst.
Based on the estimates, Ike will not be anywhere near as costly for insurers as Hurricane Katrina three years ago, which eventually cost the insurance industry $41 billion. (Reporting by Maria Sheahan; Editing by Greg Mahlich)
