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Novae Group has estimated its losses from the 27 February Chile earthquake at $10mn-$15mn, based on a relatively conservative industry loss range of $8bn to $10bn.
The loss is the lowest reported to date in absolute dollar terms, and accounts for around 3 percent of the company's shareholder funds.
Novae offered capacity of approximately £360mn at Lloyd's in 2009 through its Syndicate 2007.
Companies with a Lloyd's presence have collectively reported over $1bn in loss, although not all of this...

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