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.
The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’ 
Safepoint Exec Pay, Slide’s Stock Sell-Offs Getting Attention in Florida 
Uber and FedEx Get Green Light for Racketeering Suit Against Lawyers, Doctors 
Billionaire Boehly’s Allies Donated Heavily to Kansas Insurance Regulator 
