Argo Estimates Floods Up To $35M
Argo Group International Holdings, Ltd. announced that it expects to report in its 2011 fourth quarter results its estimate for pre-tax catastrophe losses from the severe flooding in Thailand of approximately $25 million to $35 million, net of reinsurance and reinstatement premiums.
In reaching this estimate, the Company has relied on information currently available from portfolio modeling, 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 this event may differ materially from the foregoing estimate.
