On Air Now

Current Show

Coast to Coast AM   12:00 AM - 5:00 AM

Contact Coast to Coast AM at 1-800-825-5033

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 550 AM Wausau, WI 99.9 FM Stevens Point, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
60° Feels Like: 60°
Wind: ESE 5 mph Past 24 hrs - Precip: 0.17”
Current Radar for Zip

Today

Partly Cloudy 78°

Tonight

Partly Cloudy 61°

Tomorrow

Thunderstorms 78°

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