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.
US P/C Industry Records $16 Billion Underwriting Income in Q1 
MMA Alleges Broker Patriot Poached 11 Surety Team Members 
Storage Shed Caused Nashville Parking Garage Fire, Travelers Says in $10M Subro Suit 
US Declares Power Emergency in Southeast as Heat Strains Grids 
