XL Group reports Japan earthquake, tsunami losses at between $190 million and $290 million

XL Group plc has placed its preliminary loss estimates resulting from the Mar. 11 Japan earthquake and tsunami between $190 million and $290 million.
The estimate is pretax, net of reinsurance and reinstatement premiums and approximately 70% of which is attributable to XL’s reinsurance segment, an XL release says.
The wide range reflects the continued uncertainty regarding the event, including whether coverage levels will be reached under certain policies, the release continues.
“The company’s estimates are based on a combination of commercial model outputs and its review of individual treaties and policies expected to be impacted along with available client data,” it adds.