Endurance Specialty Holdings (ENH) Sees $76.5M in Losses Due to Thailand Flood, Offers Preliminary Q4 Operating Results
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Price: $92.98 --0%
Financial Fact:
General and administrative expenses: 67.74M
Today's EPS Names:
SQZB, RENO, LUNA, More
Financial Fact:
General and administrative expenses: 67.74M
Today's EPS Names:
SQZB, RENO, LUNA, More
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Endurance Specialty Holdings Ltd. (NYSE: ENH) today announced that its initial loss estimate related to the floods that occurred in Thailand in the fourth quarter of 2011 is $76.5 million. The losses predominantly impacted Endurance's property reinsurance book of business.
In addition to the losses related to the Thailand floods, Endurance announced a net increase in its estimated losses for natural catastrophes occurring in 2010 and the first three quarters of 2011 in the amount of $26.1 million. The net increase in estimated losses predominantly impacted Endurance's catastrophe reinsurance book of business.
As a result of the fourth quarter floods in Thailand and the net increase in loss estimates related to catastrophe events that occurred in 2010 and the first nine months of 2011, Endurance expects to report a fourth quarter 2011 after-tax operating loss of between $26.0 and $41.0 million, or between $0.84 and $1.21 on a fully diluted per share basis. The Street is forecasting EPS of $0.56 for the quarter.
Endurance is scheduled to report its final fourth-quarter and full-year audited financial results on Thursday, February 9, 2012 after the close of the financial markets, with a subsequent analyst conference call on Friday, February 10, 2012, at 8:30 a.m. (Eastern) to discuss the financial results.
In addition to the losses related to the Thailand floods, Endurance announced a net increase in its estimated losses for natural catastrophes occurring in 2010 and the first three quarters of 2011 in the amount of $26.1 million. The net increase in estimated losses predominantly impacted Endurance's catastrophe reinsurance book of business.
As a result of the fourth quarter floods in Thailand and the net increase in loss estimates related to catastrophe events that occurred in 2010 and the first nine months of 2011, Endurance expects to report a fourth quarter 2011 after-tax operating loss of between $26.0 and $41.0 million, or between $0.84 and $1.21 on a fully diluted per share basis. The Street is forecasting EPS of $0.56 for the quarter.
Endurance is scheduled to report its final fourth-quarter and full-year audited financial results on Thursday, February 9, 2012 after the close of the financial markets, with a subsequent analyst conference call on Friday, February 10, 2012, at 8:30 a.m. (Eastern) to discuss the financial results.
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