Arch edges Katrina loss upwards
Arch Capital Group has announced that it expects 2005 net third quarter operating earnings to be negatively impacted by $173m due to hurricane Katrina — exceeding its previous maximum probable loss estimate, which was of the range $110m-$160m.
In addition the Bermudian (re)insurer quoted further hits to its third quarter profit and loss account of $48m for hurricane Rita plus an additional $18m for hurricanes Dennis and Emily, plus $13mOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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