Platinum takes $45m Rita hit but still sees FY profits
Platinum Underwriters Holdings has unveiled a net Hurricane Rita loss estimate of $45million. However the Company added that it expects to be profitable for the full year of 2005, assuming no significant catastrophe losses or other unusual adverse events for the balance of the year.
The Company cautioned that because it has received very few claims notices to date, the loss estimates from Rita are preliminary and are based on portfolio modeling, a review of individualOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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