Bermuda-based Max Re Capital Ltd. has issued a preliminary statement indicating that, despite the natural catastrophes of the third quarter of 2005, it still foresees overall net income for the first nine months of the year between $10 and $20 million.
“These results include an estimated negative impact on earnings of $US90 million from Hurricane Katrina, which is at the high end of the Company’s previously announced range of $US60 million to $US90 million, and an estimated negative impact on earnings of $US20 million from Hurricane Rita,” said the announcement.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
AI Data Center Boom Is ‘Maxing Out’ P/C Insurers, AIG CEO Says 
Lindsay Clancy Trial Focus Turns to Drugs Prescribed Before She Killed Her 3 Children 
UnitedHealth Investor Suit Alleges Security, Governance Lapses 
Thoma Bravo to Take Accelerant Private in $4 Billion Deal 
