Alterra Expect $10/15M On Q3 Catastrophes
Bermuda-based Alterra Capital Holdings Limited said their initial estimate for losses from third quarter 2012 catastrophe events, predominantly from Hurricane Isaac, is in the range of $10 million to $15 million, pretax and net of reinsurance and reinstatement premiums. Losses are expected to relate principally to Alterra’s US insurance segment.
In addition, Alterra believes that its net underwriting loss from the US crop events that occurred in the summer of 2012 will be approximately $22.5 million, pretax and net of reinsurance and reinstatement premiums, within the previously announced range.
