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 –
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
AI for the Defense: Should Insurers or Law Firms Pay? 
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market 
Business Interruption Claims Arising From the Middle East Conflict 
Amish Mother and 6 Children Killed in Explosion and Fire at Pennsylvania Home 
