NU Online News Service, Jan. 27, 11:53 a.m. EST
Platinum Underwriters Holdings, Ltd. says it expects 2011 catastrophes to have a $55.4 million impact fourth-quarter results, including an impact of about $27.9 million for flooding inThailand.
The Hamilton, Bermuda-based company also expects increases to its estimates for the March earthquake and tsunami inJapanand February New Zealand earthquake of $17.1 million and $11.8 million respectively.
Fourth-quarter net impairment losses on securities related to non-agency residential mortgage-backed securities and sub-prime asset-backed securities are estimated at $13.1 million, net of taxes.
Platinum Underwriters says it does not expect to incur material losses from the Costa Concordia cruise ship disaster.
