IPC expects to take $350m-$600m Katrina hit to earnings
IPC Holdings has announced that it anticipates the net impact of Hurricane Katrina losses on net income in the third quarter to be in the range of $350 million to $600 million.
The property catastrophe specialist went on to describe Katrina as “potentially the largest property loss in insurance and reinsurance history”. IPC calculated its estimate based on industry insuredOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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