Bermuda’s IPC Holdings, Ltd. said that, based upon a preliminary analysis of initial information available, it expects third quarter, 2004 earnings to be negatively impacted by Hurricane Charley in the range of $35 to $45 million.
The Company noted that it “had received only a small number of actual loss advices from clients since the event. Accordingly, the estimated range was based on industry loss estimates, output from both industry and proprietary models and a review of contracts potentially affected by the event. The ultimate impact of losses from the hurricane on the Company’s results of operations might therefore differ substantially from the estimate.”
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Karen Read Sues Police Agencies That Investigated Her Boyfriend’s Death 
Trump Scraps Ocean Sensors Providing Crucial Data on Climate, Flooding 
Helicopter Crash in Georgia Kills Groom, Pilot, Hours After Huge Wedding Celebration 
Roof Costs Soar Even as Claims Decline: Verisk 
