Vesta Insurance Group, Inc. announced that its preliminary net loss estimate from Hurricane Wilma for its subsidiary, Florida Select Insurance Company, is expected to be in the range of $4.5 to $8.5 million, after recovery from its 50 percent quota share reinsurance agreement. The preliminary loss estimate is based on catastrophe models and initial reports from policyholders.
Vesta, headquartered in Birmingham, Ala., is a holding company for a group of insurance companies that primarily offer property insurance in targeted states.
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