Hartford Financial Services has said it expects its losses from Hurricane Katrina and Hurricane Rita to total...
Hartford Financial Services has said it expects its losses from hurricanes Katrina and Rita to total $134m after tax and net of reinsurance.
The insurer said it expects about $104m in losses from Hurricane Katrina, including $39m after tax in reinstatement premiums, and a further $30m from Hurricane Rita.
The company has also completed its annual review of its environmental liabilities and will incur a $24m after-tax loss for the third quarter of 2005 to increase its environmental reserves.
Hartford plans to release its third-quarter 2005 earnings results on 3 November.