Allmerica Financial Corp. expects fourth-quarter net operating earnings to be reduced by 29 cents per share due to catastrophic losses from winter storms. The company pointed out, however, it would recognize a tax benefit to offset the losses.
The Worcester, Mass.-based company said winter storms in the Midwest, South and Northeast in December resulted in catastrophic losses of $47 million before the effects of reinsurance. The impact on net operating earnings would be $24 million, net of reinsurance.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Senators Launch Probe Into Demotech’s Ratings in Florida 
Insurance Industry ‘Megadeals’ Dominate 2025, Says PwC 
Louvre Tightens Security After $102M Jewel Heist, Installs Bars on Infamous Window 
North Carolina Sting Operation Alleges Roofer Damaged Shingles to File Claim 
