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Fitch Finds $2.7 Billion In Reported Sept. 11 Life Losses

By Staff Writer

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NU Online News Service, Dec. 4, 5:05 p.m. – Fitch IBCA, Duff & Phelps, New York, a rating firm, says insurers and reinsurers have reported a total of about $2.7 billion in life and health losses resulting from the Sept. 11 attacks.

The New York Times is reporting that, as of Nov. 29, the official count of the dead and missing stands at 3,533.

The total life and health exposure reported so far would amount to an average of about $771,000 in claims per life lost.

The loss figures could increase, because a large catastrophe pool run by Special Pooled Risk Administrators Inc., Summit, N.J., has not released a loss estimate, Fitch says.

The full report, which gives pretax life and health loss figures for 55 life insurers, multiline insurers and reinsurers, is available on the Web, at http://www.fitchratings.com/corporate/reports/report.cfm?rpt_id=135602