IPC Re warns on catastrophe losses impact
IPC Holdings has issued a warning on its fourth quarter 2004 results because of catastrophe losses, arising from the Florida hurricanes and Pacific typhoons. It has revised the aggregate net impact to be approximately $60 million, after taking into account reinstatement premium and reinsurance recoveries.
It expects fourth quarter net claims incurred to be approximately $50 million. It will release earnings for the fourth quarter and year after the close of trading on February 22nd, 2005,Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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