Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

Alterra may take $25mn Japan cat bond loss

13 April 2011

Alterra Capital will take a $60-100mn net loss on the 11 March Japanese earthquake and it may also see an investment loss of up to $25mn on a cat bond it owns that is exposed to the event.

Alterra's loss estimate equates to a 2.1 - 3.4 percent of 2011 opening equity.

Its first quarter loss toll, at the mid-range of its forecasts, has reached $112mn or 3.84 percent of equity including previously announced losses from Australian and New Zealand...

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