Argo Estimates $60m Loss From Japan Quake
Argo Group International Holdings, Ltd. announced today [Apr.18] its preliminary pre-tax loss estimate for the March 11, 2011, earthquake and tsunami in the Tohoku region of Japan is approximately $60 million, net of reinsurance and reinstatement premiums.
In reaching this estimate, the company has relied on information currently available from portfolio modeling and assessments of the exposures insured under individual policies and industry loss estimates. Due to the preliminary nature of the information used to determine this estimate, the ultimate cost to the company from these events may differ materially from the foregoing estimate.
