The Bermuda-based Argo Group International Holdings, Ltd. announced that it expects its 2012 fourth quarter results to include pre-tax catastrophe losses, related to Hurricane Sandy, of between $45 million and $55 million, net of reinsurance and reinstatement premiums.
The bulletin noted that in reaching this estimate, “the Company has relied on information currently available from portfolio modeling and assessments of the exposures insured under individual policies and industry loss estimates. Due to the preliminary nature of the information used to determine this estimate, the ultimate cost to the Company from this event may differ materially from the foregoing estimate”.
Source: Argo Group International Holdings, Ltd.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
State Farm Paid a ‘Hail’ of a Lot of Claims in 2025 
Florida Sunshine: Big Improvement in Combined Ratio in 2025, Gallagher Says 
