Zenith National Insurance Corp. reported its initial estimate of losses in its assumed reinsurance business attributable to Hurricane Charley. Zenith currently expects that its net after tax loss from Hurricane Charley will be approximately $3.1 million or $0.13 per diluted share.
The initial estimate is based on a preliminary review of Zenith’s assumed reinsurance contracts and preliminary information from some ceding companies and does not include any estimated impact that Hurricane Charley may have on our share of the results of our equity investment in Advent Capital (Holdings) PLC. Zenith is not aware of any losses in its workers’ compensation business from the storm.
Was this article valuable?
Here are more articles you may enjoy.
London Broker Howden Plots Giant Capital Raise on IPO Path 
One Weather Firm Warns New England Could See Big Hurricane This Season 
Ryanair Passenger Partly Sucked From Jet After Window Breaks 
Premiums Will Skyrocket by 2035; Discounts Not Enough for Wind Mit, Studies Say 
