St. Paul Travelers Estimates Approximately $93 Million in Jeanne Losses

St. Paul Travelers announced that it estimates losses from Hurricane Jeanne to be approximately $93 million, after tax and reinsurance.

It apportioned the losses as follows:
– Commercial, approximately $26 million;
– Specialty, approximately $44 million; and
– Personal, approximately $23 million.

“These estimated losses are expected to reduce the company’s diluted earnings per share for the third quarter of 2004 by approximately $0.13,” said the bulletin. They are in addition to the loss estimates previously announced for Charley, Frances and Ivan.

The company said the combined losses from all four hurricanes are expected to reduce its diluted earnings per share for the third quarter of 2004 by a total of approximately $0.58.