Zenith National Insurance Corp. reported its initial estimate of losses in its assumed reinsurance business attributable to Hurricane Charley. Zenith currently expects that its net after tax loss from Hurricane Charley will be approximately $3.1 million or $0.13 per diluted share.
The initial estimate is based on a preliminary review of Zenith’s assumed reinsurance contracts and preliminary information from some ceding companies and does not include any estimated impact that Hurricane Charley may have on our share of the results of our equity investment in Advent Capital (Holdings) PLC. Zenith is not aware of any losses in its workers’ compensation business from the storm.
Was this article valuable?
Here are more articles you may enjoy.
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
Lululemon Slips as Texas Announces Probe of ‘Forever Chemicals’ 
IBM Agrees to Pay Government $17 Million in DEI Settlement 
Albertsons Reaches $774 Million Opioid Accord, Records Loss 
