Texas-based American National Insurance Company announced that its subsidiary property and casualty companies, including American National Property and Casualty (ANPAC) and ANPAC Louisiana Insurance Company and their subsidiaries, have revised their estimated pre-tax loss, net of reinsurance, from Hurricane Katrina to $42 million. The estimated pre-tax loss before reinsurance is $222 million.
American National’s estimated pre-tax loss, net of reinsurance, from Hurricane Rita is $10.4 million, with an estimated pre-tax loss before reinsurance of $25 million.
These estimates are based upon information received through Oct. 3 on claims that have been settled, information received from Catastrophe Team Adjusters, and from future expected claims. These estimates will be refined as uncertainties involving the nature of the events, difficulty accessing parts of the affected areas, complexities of losses, legal issues and regulatory issues are resolved.
Topics Profit Loss Reinsurance
Was this article valuable?
Here are more articles you may enjoy.
Florida Jury Returns $779M Verdict for Family of Security Guard Killed at Gambling Cafe 
Hartford: 10-Year Analysis Shows Shifts in Common, Expensive Small-Business Claims 
Acrisure to Buy MGA Vave From Canopius 
State Farm Sued Over Policies Backed by Distressed Insurer PHL 
