Platinum Underwriters (PTP) Estimates 2011 Catastrophe Losses
Tweet
Share
E-mailGet Alerts PTP Hot Sheet
Price: $76.52 --0%
Financial Fact:
Net acquisition expenses: 30.41M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Net acquisition expenses: 30.41M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Join SI Premium – FREE
Platinum Underwriters Holdings, Ltd. (NYSE: PTP) expects losses from 2011 catastrophes will have a net negative impact of approximately $55.4 million on the Company's fourth quarter 2011 results. Approximately $27.9 million of the estimated net negative impact from catastrophes relates to the recent severe flooding in Thailand.
In addition, the Company expects that net impairment losses on securities in the fourth quarter of 2011 will be approximately $13.1 million, net of taxes.
The Company also announced that it currently does not expect to incur a material loss related to the Costa Concordia cruise ship disaster that occurred in January 2012.
In addition, the Company expects that net impairment losses on securities in the fourth quarter of 2011 will be approximately $13.1 million, net of taxes.
The Company also announced that it currently does not expect to incur a material loss related to the Costa Concordia cruise ship disaster that occurred in January 2012.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sky Quarry names Heidi Bowman as CFO
- Synaptics CFO resigns amid pending ON Semiconductor merger
- Wolfspeed (WOLF) Misses Q4 EPS by 174c; Offers Guidance
Create E-mail Alert Related Categories
Corporate News, GuidanceSign 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!
