Sagicor Lloyd’s division raises Chile loss
Caribbean insurer Sagicor has increased its net loss estimates on
the Chilean earthquake disaster to $10mn in its half-year results,
up from an earlier estimate of $8mn.
This contributed to a 43 percent drop in net income to $23mn for
the first half, down from $40mn in the same period of 2009.
Premium revenue was down 1 percent to $411mn, although premiums
rose "significantly" in the Lloyd's division to
compensate for declining US life/annuity business. The firm's
London operation wrote...
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