Bermuda-based Arch Capital Group Ltd. announced that it expects after-tax earnings for the 2005 fourth quarter to be negatively impacted by the effects of Hurricane Wilma in the range of $40 million to $60 million based on industry insured losses of $8 to $12 billion.
These preliminary estimates are net of reinsurance and reinstatement premiums. The losses from the storm are currently expected to arise 56% in the company’s insurance operations and 44% in its reinsurance operations if the industry loss is at the lower end of the range and move to a 48/52 split, insurance and reinsurance, if the industry loss is at the upper end of the range.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Update: NAIC Says Data Taken in Hack Has Been Published Online 
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake 
Higginbotham Tests the Carolina Waters With Turbeville Acquisition 
