Philadelphia Consolidated Holding Corp. has reported its initial estimate of losses attributable to Hurricane Dennis.
Although claims information is preliminary, the company estimates its net after-tax losses to be approximately $2.3 million. The company further announced that the catastrophe losses due to Hurricane Dennis primarily impacted its personal lines mobile homeowners and homeowners books of business.
Additionally, as a result of utilizing certain catastrophe reinsurance
coverage in connection with this hurricane event, the company will recognize approximately $1.0 million, after-tax, in catastrophe reinstatement premium expense during the third quarter 2005.
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