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.
Majority of Small Business Are Underinsured as Other Expenses Prioritized 
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
Husband and Wife Insurance Brokers Sentenced for Fraud Scheme 
Lloyd’s of London Says Former CEO Neal Breached Compliance Rules 
