On Air Now

Now Playing

The Truth About Love Album Cover Try by P!nk
Our Playlist »

Listen

Listen Live Now » 95.5 FM Wausau, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
36° Feels Like: 29°
Wind: ESE 9 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Mostly Sunny 47°

Tonight

Partly Cloudy 29°

Tomorrow

Few Showers/Wind 61°

Alerts

Travelers estimates gross loss of $1.14 billion from Sandy

(Reuters) - Travelers Cos Inc said its preliminary estimate of net losses from superstorm Sandy was about $650 million after tax.

It estimates a gross loss of $1.135 billion excluding expected recoveries from reinsurance, the company said in a statement.

The company also said it intends to resume share buybacks that it had temporarily suspended to assess its exposure to the storm.

Sandy is likely to be the second-costliest disaster in U.S. history, behind only Hurricane Katrina. Industry experts estimate insured losses of as much as $25 billion, excluding claims paid by the federal flood insurance program.

Allstate Corp said last week that it expects to report October disaster losses of $1.08 billion, mostly due to superstorm Sandy.

(Reporting by Aman Shah in Bangalore; Editing by Roshni Menon)

Comments