White Mountains: Frances’ Net Loss at $40 Million

Bermuda-based White Mountains Insurance Group, Ltd. announced that preliminary estimates indicate that its total pre-tax net losses resulting from the impact of Hurricane Frances on its insurance and reinsurance operations will be less than $40 million.

The company said: “These estimates do not reflect the impact on profit commissions payable to White Mountains by Olympus Re or on the value of the Company’s investment in Montpelier Re.”