SCOR Estimates Q3 Hurricane Losses at $27.5 Million

September 29, 2004

France’s SCOR Group estimates that the total gross cost of the cost of the hurricanes in the United States and in the Caribbean, Charley, Frances and Ivan, to be 22.5 million euros million ($27.5 million).

SCOR noted that the estimates were “based on the information it has today,” and don’t apparently include loss estimates from damages caused by Hurricane Jeanne. The figures are on a gross basis and before taxes.

The reinsurer also noted that it estimates the cost of the typhoons Chaba and Songda which struck Japan as well as the floods in China (Ranamin) are around 8 million euros ($9.8 million) on a gross, pre-tax basis.

“These natural events, given their exceptional frequency and severity, with a total gross cost before taxes of 30.5 Million euros ($37.5 million), will impact the results of the Third Quarter 2004,” said the announcement.

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