EMC Ups Q2 Reserves, Estimates Storm Losses

Des Moines, Iowa-based EMC Insurance Group announced that it will strengthen its bulk loss and settlement expense reserves by about $2.9 million for the second quarter. The company also estimated additional storm losses of $4.1 million for a 2004 total of $5 million, compared to $10.3 million through June 2003.

EMC said the reserve action was taken after a regularly scheduled actuarial analysis of the company’s books.