American Safety Insurance (ASI) Sees After-Tax Losses Related to Catastrophes of $1.16/Share, Provides Q4 Outlook
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American Safety Insurance Holdings, Ltd. (NYSE: ASI) sees Q4 loss of 68 cents per share, which compares to the Street estimate of a 38 cent per share gain.
The company said its quarterly results will reflect after-tax losses attributable to catastrophes and reserve strengthening of approximately $12.0 million in the aggregate, or $1.16 per share. Catastrophe losses within the Assumed Reinsurance division attributable to the Thailand flooding and revised estimates for the New Zealand and Japanese earthquakes are expected to be approximately $4.0 million after tax.
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The company said its quarterly results will reflect after-tax losses attributable to catastrophes and reserve strengthening of approximately $12.0 million in the aggregate, or $1.16 per share. Catastrophe losses within the Assumed Reinsurance division attributable to the Thailand flooding and revised estimates for the New Zealand and Japanese earthquakes are expected to be approximately $4.0 million after tax.
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