RenaissanceRe Says Sandy May Reduce Earnings by $130 Million

RenaissanceRe Holdings Ltd. said losses from superstorm Sandy may reduce earnings in the fourth quarter by $130 million.

The estimate is based on “a review of its potential exposures, preliminary discussions with certain counterparties and catastrophe modeling techniques,” the Bermuda-based insurer said today in a statement distributed by Business Wire

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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