The London fire that killed scores of people last month could lead to gross property and liability insurance claims of £50 million (NZ$88 million), the company that had insured the property says.
At least 80 people are dead, or missing and presumed dead, in the blaze that gutted the 24-storey Grenfell Tower block on June 14, and the final toll may not be known until next year, British police have said.
Norway's Protector Forsikring is the insurance provider for the building's owner, the Royal Borough of Kensington and Chelsea.
"Gross claims all products preliminary estimated to £50 million," it said as it released its second-quarter earnings.
"Figures are preliminary, uncertain and will include both property, liability and other potential related costs," it added.
The figures were preliminary and uncertain so they could change, Protector said.
The company had previously said the fire would cost property insurers more than £25 million, with £20 million covering the building itself and the rest going to additional expenses such as alternative housing.
Protector had also said the cost would largely be covered by its reinsurance program through Germany's Munich Re.
Britain's Jardine Lloyd Thompson was the insurance broker for Grenfell Tower.
Meanwhile the head of the public inquiry into the inferno is facing hostility from displaced residents.
Survivors of the blaze expressed concern over Martin Moore-Bick's planned inquiry at a meeting on Thursday night and asked why there have been no arrests.
The retired judge said he will investigate to the "very best" once the inquiry begins.
Residents said they were frustrated with the inquiry plans.
"People firmly believe that arrests should be made as a result of the outcome of all of this," said resident Melvyn Akins.
"If arrests are not made, people are going to feel justice may not be being done."
Reuters
