The ripple effects from Hurricane Wilma continue to impact theinsurance industry with the announcement of losses by Odyssey Reand the downgrade of Omega Insurance Company by A.M. Best.
Stamford, Conn.-based insurer Odyssey Re Holdings Corp. said itlost $125 million before taxes from Hurricane Wilma during thefourth quarter of 2005. The figure is net of applicable reinsuranceand reinstatement premiums. The after-tax net loss stands at $81million.
Odyssey said the losses are expected to be primarily fromFlorida and Mexico.
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