Bermuda-based Platinum Underwriters Holdings announced that its initial loss estimate from Hurricane Gustav of approximately $15 million, net of reinstatement premiums and tax benefit.
The Company stressed that the “loss estimate from Hurricane Gustav is preliminary and based on portfolio modeling, a review of individual contracts and discussions with clients and brokers. Consequently, the actual net impact on the Company’s results arising from Hurricane Gustav may differ materially from the current estimate.”
Source: Platinum Underwriters Holdings – www.platinumre.com
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Another Crane, Then Another, Collapses Onto Home in Fort Lauderdale 
Cyber Threats the Top Business Concern as AI Heightens Risk: Travelers Risk Index 
Claims Against NYC Rental Buildings Nearly Doubled Since 2021: Milford Street 
Hellman & Friedman Explores Sale of Applied Systems at Up to $10B, Sources Say 
