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.
Hordes of Teens on E-Bikes Force Suburbs to Rewrite Road Rules 
Eastern States’ Grocers Shut Online Systems After Cyberattack 
AI’s Water Strain Includes Surging Demand From Electricity Use 
KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event 
