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News Breaks
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January 24, 2012
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| 17:02 EDT |  | HCC |
| theflyonthewall.com: | HCC Insurance estimates Q4 catastrophe losses of $10M | | HCC Insurance Holdings announced its preliminary estimate for Q4 2011 catastrophe losses, after reinsurance and reinstatement premium, of $10.0M pretax, or $6.5M after-tax. These losses relate to flooding in Thailand and impacted the Company's property insurance and property treaty lines of business in the International segment. Year-to-date 2011 estimated catastrophe losses total $117.9M pretax, or $76.6M after-tax, representing 2.3% of shareholders' equity at December 31, 2010. The Company's ultimate losses from catastrophic events may differ materially from its current estimates due to the uncertainties involved in making such estimates. :theflyonthewall.com |
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