Allied World Q2 Estimated Losses: $65 to $75m
Bermuda based Allied World Assurance Company Holdings announced today [July 8] that it expects to record approximately $65 million to $75 million in catastrophe related losses and loss expenses in the second quarter of 2011.
This range is comprised of approximately $40 million to $50 million from second quarter 2011 weather-related events in the United States and approximately $25 million for additional expected losses from first quarter catastrophe events in New Zealand and Japan. These amounts are pre-tax and net of reinsurance recoverables.
Allied World’s loss estimates for these events are derived from preliminary information obtained from clients and brokers, a review of the terms of in-force policies and contracts, a review of outward reinsurance agreements and from our catastrophe modeling analysis. Actual ultimate losses from these events may vary materially from the current estimates due to inherent uncertainties.
