Allied World estimates $40mn-$50mn hit for Thai floods
Allied World become the latest (re)insurer to update markets on its likely losses from the severe flooding in Thailand during the fourth quarter, with its losses now expected to reach $40mn to $50mn.
Additionally, the Switzerland-headquartered (re)insurer said it was adding $15mn to reserves for past catastrophe events in 2011, continuing a theme seen among its peers in recent weeks.
Combined, the two charges will dent Allied World's fourth quarter earnings by $55mn to $65mn.
At approximately 1.5 percent of...
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