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February 8, 2012
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| 16:41 EDT |  | FSR |
| theflyonthewall.com: | Flagstone Reinsurance provides estimate for catastrophes in 1H11 | | Flagstone Reinsurance Holdings announced adverse development from catastrophe loss events that occurred in 1H11 based on revised loss estimates provided in recent updates from cedants. The impact on Q4 results from continuing operations is estimated to be $50M to $55M, net of reinstatement premiums and retrocession. Furthermore, the company's preliminary estimates for losses from flooding in Thailand during the Q3 and Q4 of 2011 is expected to negatively impact its fourth quarter results from continuing operations by approximately $13M to $18M, net of reinstatement premiums and retrocession. The company's estimated loss is based on an industry loss of between $15B and $18B. In addition, Flagstone expects minimal impact from the Costa Concordia shipwreck on its 2012 results from continuing operations. :theflyonthewall.com |
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