Allied World estimates it will take a $40mn charge relating to crop reinsurance losses and loss expenses in its third quarter results.
The losses come after severe drought conditions in the Midwest this year.
Allied World said the $40mn came in addition to the company's anticipated losses and loss expenses for this line of business prior to the drought's onset.
The Switzerland-headquartered (re)insurer also pre-announced a further $5mn to $10mn of losses and loss expenses relating to Hurricane Isaac, the...
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