Montpelier Re Holdings (MRH) Sees $130 Million Financial Impact From Hurricanes Gustav and Ike
More News related to MRH
- Montpelier Re (MRH) Declares $0.09 Quarterly Dividend; 2.2% Yield
- Montpelier Re Announces a 20% Increase To Its Regular Quarterly Dividend
- Montpelier Re (MRH) Posts Q3 EPS of $0.71, Misses by 1c
- Montpelier Re Reports Net Income of $148 Million for the 2009 Third Quarter and a 9.6% Increase in Fully Converted Book Value Per Share to $19.78
- Trading Radar for 11/03: UBS (UBS), Yamana Gold (AUY), Archer-Daniels (ADM), Royal Caribbean (RCL), Marathon (MRO) Report
More News related to Corporate News
- Regent Communications (RGCI) Receives Delisting Notification From NASDAQ
- Emclaire Financial (EMCF) to Withdraw $20M Common Offerin; Cites Unfavorable Market Conditions
- Swine Flu Cases Decline to Lowest Level in 2+ Months
- Tri-Valley Corp. (TIV) Will Stay on NYSE AMEX, Deficiency Resolved
- Phoenix Footwear (PXG) Enters into $4.5M Secured Revolving Credit Facility
Montpelier Re Holdings Ltd. (NYSE: MRH) announced a preliminary estimate of the combined net financial impact from Hurricanes Gustav and Ike of approximately $130 million, based on a $15 billion estimated total industry loss. The estimated net financial impact includes losses and loss adjustment expenses, net of reinsurance and reinstatement premiums in addition to any other loss sensitive accruals.
This initial assessment of losses is based on a combination of our proprietary CATM modeling analysis and a review of industry market loss estimates, in-force contracts, and a limited number of loss advices from clients. Because of the uncertainties associated with the various inputs to this estimate, Montpelier's actual losses may differ significantly from our estimate.
Montpelier Re Holdings Ltd. is a provider of global property and casualty reinsurance and insurance products through its principal operating subsidiary, Montpelier Reinsurance Ltd. (Montpelier Re)[SM]
Related Categories
Corporate NewsStocks Mentioned
+0.46Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
