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.
Hedge Funds Are Expanding Desks Designed to Profit From Natural-Catastrophe Risk 
Roof Costs Soar Even as Claims Decline: Verisk 
Natural-Disaster Insurance Gap Now Exceeds $420 Billion Globally 
Travelers: Vendor Issues Over Half of Wedding Insurance Claims in 2025 
