Alea estimates up to $240m losses
Alea Group Holdings (Bermuda) has announced estimates on the company's 2005 performance following the Group’s transition into run-off in the fourth quarter of 2005, with $200-240m (£113-136m) losses after tax. In addition, it is estimating $95-105m in run-off charges and storm losses of $108-125m.
The group was moved into run-off as a result of the inability to attract a suitable volume and quality of business following the rating agency downgrades in the third and fourth quarters of 2005.The
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