Cat losses will increase Ace COR by up to 6%
Ace has estimated its total net catastrophe-related losses during the third quarter will be approximately $480m (£267m) before tax. This will increase the insurer's annual combined ratio from an estimated 88-90%, to between 93-94%.
According to Ace, this total includes the previously announced loss estimate of approximately $100 million from Hurricane Charley, as well as loss estimates from Hurricanes Frances, Ivan and JeanneOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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