Gap warehouse fire loss could cost $250mn-$400mn

The property direct and facultative market is facing a
$250mn-$400mn gross loss following a fire at a warehouse belonging
to clothes retailer Gap, The Insurance
Insider can reveal.
Ascot is understood to be the overall lead, while XL Catlin and
Endurance also have lead lines.
Ascot has a 25 percent line on the primary $25mn layer, while
Endurance has a 4.5 percent line on the first $100mn of cover.
Legacy Catlin has a 17 percent stake up to $50mn xs...