Des Moines, Iowa-based EMC Insurance Group announced that it will strengthen its bulk loss and settlement expense reserves by about $2.9 million for the second quarter. The company also estimated additional storm losses of $4.1 million for a 2004 total of $5 million, compared to $10.3 million through June 2003.
EMC said the reserve action was taken after a regularly scheduled actuarial analysis of the company’s books.
Topics Profit Loss Windstorm
Was this article valuable?
Here are more articles you may enjoy.
Georgia Appeals Court Reverses $345M Judgment Against Insurers in School Sex Abuse 
Greek Oil Tanker Exits Hormuz Shipping Strait With Signal Off 
CRC Group CEO on Casualty: ‘It’s More About the Coverage’ Than Price 
Chubb to Serve as Lead US Insurer for Gulf Shipping Amid Iran War 
