Market Loss from Event Could Be $3.5B

Deepwater Horizon Gulf of Mexico Oil Spill

In its quarterly earnings report released Thursday, Swiss Re gave its pre-tax, provisional estimate of the loss from the explosion of the Deepwater Horizon rig: $200 million.

Swiss Re added that the total insured market loss from the event could be more than 10 times that figure, ranging from $1.5 billion to $3.5 billion. The Zurich-based reinsurer cautioned that the ultimate loss is hard to predict given the developing nature of the situation and considerable uncertainties involved.

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Deepwater Horizon Images
Smoke Rising from Horizon (Apr 22) Dark clouds of smoke and fire BP CEO Tony Hayward with USCG Macondo BOP Oil Leak
Deepwater Horizon in Flames (Apr 20) Deepwater Horizon Fire (Apr 21) Macondo Subsea Oil Containment Diagram Deepwater Horizon & Vessel (Apr 22)
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