Vesta Insurance Group, Inc. announced that its preliminary net loss estimate from Hurricane Wilma for its subsidiary, Florida Select Insurance Company, is expected to be in the range of $4.5 to $8.5 million, after recovery from its 50 percent quota share reinsurance agreement. The preliminary loss estimate is based on catastrophe models and initial reports from policyholders.
Vesta, headquartered in Birmingham, Ala., is a holding company for a group of insurance companies that primarily offer property insurance in targeted states.
Was this article valuable?
Here are more articles you may enjoy.
Pritzker Signs Bills Giving Insurance Department Power to Overturn Rate Changes 
AI-Native Network American Growth Insurance Makes Heller-Kowitz its First Buy 
New AIG CEO Andersen Talks Marketplace ‘Pass-Throughs,’ Opportunity 
Chipwich Maker Withdraws Lawsuit Against Insurance Agency 
