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Provider: Reuters Investment Profile
Provider: Reuters Investment Profile
Provider: Ford Investor Services, Inc.
Provider: Thomson Reuters StreetEvents

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Scor SE Estimates Net Pre-tax Losses from Recent Flooding in Europe at EUR 80 Million

Thursday, 11 Jul 2013 11:46am EDT 

Scor SE announced that it estimates net pre-tax losses from recent flooding in Europe at EUR 80 million after retrocession and reinstatements. The major flooding in June of the Elbe, Danube and Vltava rivers generated widespread economic disruption. The Company's estimate is based largely on information provided by its clients, supplemented by analysis of underlying exposure in the affected areas. The Company sees the insured loss for the industry in the EUR 3 to 3.5 billion range with an associated return period of loss around 15-25 years for Europe. 

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12:45pm EST