Flagstone Re Estimates Losses of $60M to $90M from New Zealand Earthquake

Flagstone Reinsurance Holdings, S.A. FSR today announced that its preliminary estimate of losses related to the February 2011 New Zealand earthquake is expected to be between $60 to $90 million, net of reinstatement premiums and retrocession.

The Company's estimated loss is based on an estimated industry loss as a result of the earthquake to be between $8 billion and $12 billion USD.