HCC announces modest Thai loss
Global specialty insurer HCC has told the markets that it expects pre-tax cat losses of only $10mn from last year's Thai floods.
The loss is equivalent to roughly 0.2 percent of shareholder equity at year-end 2010.
HCC said that it had incurred the losses through the property insurance and property treaty books of its international segment.
The Houston-headquartered (re)insurer added that its current estimate for 2011 cat losses stood at $117.9mn, or 2.3 percent of shareholder equity at 31 December...
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