Transatlantic Estimates $19 Million Q1 Cat Losses

Transatlantic Holdings Inc. announced that it presently expects to report net catastrophe losses in its first quarter 2005 results of approximately $19 million after tax, principally resulting from European Windstorm Erwin.

The company also announced that it would announce first quarter earnings on April 21, 2005.

AIG owns 59.3 percent of the shares of Transatlantic, a global reinsurance company. Its former Chairman, Maurice R. “Hank” Greenberg, recently resigned as the company’s chairman (See IJ Web site April 6).