NYMagic says it logged $6.1m in hedge fund losses in the month of October alone.
The US insurer says the loss estimates are based on data from all but one of its hedge funds. The company has a balance of $500,000 in the remaining fund, which is winding down.
At the end of the third quarter, New York-listed NYMagic reported that it had more than $159m in assets in 24 limited partnership hedge funds.
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