Hannover Re Sees Major Loss From Carnival Cruise Liner Accident

Hannover Re expects the capsizing of a Carnival Corp. cruise liner off Italy’s Tuscan coast to result in a major loss for the German reinsurer, said company spokeswoman Gabriele Handrick.

Hannover Re defines a major loss as 10 million euros ($12.7 million) or more, she said. It is too early to tell what the loss will be, according to the spokeswoman for the Hanover-based company.

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