Friday evening, Flagstone Reinsurance Holdings Limited (NYSE:FSR) said their current estimate for losses from Hurricane Ike could be anywhere from $10 billion to $16 billion. The company specializes in global reinsurance and insurance. The losses account for all onshore insured industries, but due to their modeling system, exact losses cannot be estimated. The company uses their Quartz LiveCat system to estimate potential damage right before and right after storms hit to provide a relatively reliable number in total damages. Shares of Flagstone were down 22 cents to $12.34 at the close of the market Friday, September 12.

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