Vesta Subsidiary Estimates Hurricane Wilma Losses at $4.5 to $8.5 Million

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.

Topics Catastrophe Natural Disasters Profit Loss Hurricane