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Sandy May Cost Insurers as Much as $25 Billion, RMS Estimates

Nov. 14 (Bloomberg) -- Superstorm Sandy may cost insurers $20 billion to $25 billion after striking the U.S. Northeast last month, according to an estimate provided to clients by Risk Management Solutions Inc.

The figure compares with a projection of as much a $20 billion from Eqecat Inc., another modeling firm. The RMS range was stated today on a conference call by Kevin O’Donnell, global chief underwriting officer at RenaissanceRe Holdings Ltd.

Carolyn Camp, a spokeswoman for RMS, confirmed the figures.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net

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

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