Transatlantic Holdings, Inc. (TRH) estimated that its net losses from Hurricanes Frances, Ivan and Jeanne will amount to approximately $65 million, after tax.
It said, “after adding the impact of such losses to the previously announced net after-tax loss from Hurricane Charley (estimated at $32.5 million), TRH presently expects that the aggregate net after-tax impact from all such events will approximate $97.5 million.”
President and CEO Robert F. Orlich commented: “These significant losses resulted from an extremely unusual series of events – four major hurricanes causing significant damage in the same state, as well as adjoining states, over a six week period. Calendar year 2004 is already one of the worst years on record for insured natural catastrophe losses.”
Was this article valuable?
Here are more articles you may enjoy.
Giuliani Fails to Get $10 Million Sexual Harassment Suit in New York Dismissed 
Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati 
Public Adjuster Accused of Swiping $600,000 in Hurricane Ian Insurance Payments 
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation 
