Insurers continue to weigh in with heavy damage estimates related to the World Trade Center tragedy.
The latest two reinsurers to release figures--Employers Reinsurance and PartnerRe--estimate a combined loss approaching $1 billion.
General Electric in Fairfield, Conn. said that it will incur losses through its Employers Reinsurance Corp. subsidiary amounting to roughly $600 million, or $400 million after taxes. Employers Re is among the companies providing insurance and reinsurance coverage of the World Trade Center and the four hijacked aircraft used in Tuesday's terrorist attacks, the company said in a statement.
Bermuda-based PartnerRe Ltd. estimates that its damage claims will be in the range of $350 to $400 million.
