Philadelphia Consolidated Holding Corp. reported its initial estimate of losses attributable to Hurricane Wilma. Although claims information is preliminary, the company estimates its after-tax net losses to be approximately $5.5 million. The catastrophe losses due to Hurricane Wilma impacted both its commercial and personal lines books of business.
As a result of utilizing certain catastrophe reinsurance coverage in connection with this hurricane event, the company will also recognize approximately $2.4 million, after-tax, in accelerated and reinstatement reinsurance premium expense during the fourth quarter 2005.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
AI Claim Assistant Now Taking Auto Damage Claims Calls at Travelers 
Palantir Decamps to Miami Co-Working Space in Surprise Move 
Zurich Insurance Profit Beats Estimates as CEO Eyes Beazley 
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs 
