5/15/2008

The world's biggest reinsurers may suffer substantial losses as a result of the China earthquake, according to one American insurer. "My guess is [they] will have losses well into the hundreds of millions because of this earthquake -- more than they have made in all the time they've been in China." William R. Berkley, chairman and CEO of Greenwich, Conn.-based W.R. Berkley Corp., said. Recent estimates from modeling firms put China's property losses at $10 billion to $15 billion.

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