Allmerica Financial Corporation said despite estimated HurricaneKatrina and Hurricane Rita losses of $170 million, it is declaringa dividend payment of 25 cents a share.
The Worcester, Mass.-based insurer said it estimates itsafter-tax loss from Hurricane Katrina will be approximately $140million, or $2.62 a share for the third quarter. The after-tax lossof $140 million is net of reinsurance and includes the cost ofreinsurance reinstatement premiums, loss adjustment expense, aswell as an estimate for the Louisiana Citizens Fair Planassessment, the company said.
The company said its estimate is based on the best availabledata but warned the figure could go higher.
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