W. R. Berkley Estimates $65 Million in Losses Due to Spring Storms

W. R. Berkley Corporation reported estimated pre-tax losses of approximately $65 million from the severe storms that occurred in April and May 2011.

The Company’s loss estimate is net of reinsurance and includes reinstatement premiums.

The preliminary estimate of pre-tax storm losses for April and May exceeds the losses contemplated in the Company’s budget by approximately $35 million.

The Company will release its second quarter 2011 earnings after the market closes on Monday, July 25, 2011.

Source: W.R. Berkley Corporation