Berkley Updates Q3 Hurricane Loss Estimates to $20 Million, Including Jeanne

W. R. Berkley Corporation announced that has updated its estimate of hurricane losses in the third quarter to now include those from Hurricane Jeanne as well as Hurricanes Charley, Frances and Ivan.

Berkley’s bulletin said, “although potential claims information is preliminary, the Company’s estimate of its combined net after-tax losses from all four storms is $20 million, or 23 cents per share.”

It added that the “estimated losses are primarily a result of the Company’s participation in syndicates at Lloyd’s.”