Bermuda-based Platinum Underwriters Holdings announced that its initial loss estimate from Hurricane Gustav of approximately $15 million, net of reinstatement premiums and tax benefit.
The Company stressed that the “loss estimate from Hurricane Gustav is preliminary and based on portfolio modeling, a review of individual contracts and discussions with clients and brokers. Consequently, the actual net impact on the Company’s results arising from Hurricane Gustav may differ materially from the current estimate.”
Source: Platinum Underwriters Holdings – www.platinumre.com
Was this article valuable?
Here are more articles you may enjoy.
Korea Fines Coupang Record $409 Million for Data Breach 
Zurich Insurance Expands Data-Center Offering Beyond the US 
Why Toyota RAV4s Are Suddenly the Most Coveted Used Cars in America 
IBM, AT&T Accused by Whistleblower of Covering Up Foreign Hacks 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.