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UPDATE 1-Validus sees $170-$270 mln losses from Chile claims
March 12, 2010 / 10:07 PM / 8 years ago

UPDATE 1-Validus sees $170-$270 mln losses from Chile claims

* Sees $20 mln-$30 mln losses from windstorm Xynthia

* Says actual losses may vary from estimates

March 12 (Reuters) - Bermuda reinsurer Validus Holdings Ltd (VR.N) said it expects losses of $170 million to $270 million related to the recent earthquake in Chile.

Validus also said it expects losses for expected claims from the European windstorm, Xynthia, to be between $20 million and $30 million.

Reinsurers essentially provide insurance to other insurers, allowing the risk of loss to be spread among several carriers.

Shares of the company closed at $26.08 Friday on the New York Stock Exchange. (Reporting by Abhinav Sharma in Bangalore; Editing by Maju Samuel)

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