Montpelier Re Expects Reports Initial Loss Estimate of $75M from New Zealand Earthquake and Australian Catastrophe Events

Montpelier Re Holdings Ltd. MRH today announced a preliminary estimate of losses from the February earthquake in New Zealand and the January floods and Cyclone Yasi in Australia.

The Company currently estimates its pretax net loss from the February New Zealand earthquake will be $75 million, net of reinstatement premiums, which assumes a US $12 billion industry loss. The Company estimates its net losses from the January Australian events will be up to $15 million.

In view of the uncertainties associated with these initial estimates, actual losses may differ significantly from the estimate.