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.
Viewpoint: The AI Ransomware That Couldn’t Get Paid 
Q2 Net Income at Travelers Soars 46% on Less Catastrophes, Favorable Reserves 
Florida Regulators Mulling New Rules on Market Conduct Exams, Reporting 
One Weather Firm Warns New England Could See Big Hurricane This Season 
