HCC keeps cat losses to $51.5mn
Specialty (re)insurer HCC has announced $51.5mn in catastrophe losses for the first quarter, representing a modest 1.56 percent of the company's 2010 year-end shareholders' equity of $3.3bn.
The catastrophe loss estimate covers the Q1 Japanese, New Zealand and Australian natural disasters, with costs coming from HCC's property lines (treaty and facultative) and energy, accident and health and contingency lines of business.
The loss worked out at $33.5mn net of tax.
The average Q1 loss reported by international (re)insurers and specialty...
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