Advent ups Katrina loss by 46%, to raise £30m in equity
Lloyd's property catastrophe reinsurer Advent Capital has today announced sharply increased loss estimates for losses arising from the 2005 Hurricane season and an £30m ($53m)equity issue.
The group’s updated net post-tax position for the three major hurricanes is now £32.8m for Katrina, £8.2m for Rita and £7.1m for Wilma, totalling some £48.1m ($85m), or almost half of Advent
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