Philadelphia Consolidated Holding Corp. said it estimates after-tax net losses from Hurricane Wilma will be approximately $5.5 million, impacting both its commercial and personal lines books of business.
The Bala Cynwyd, Pa.-based insurer said the figures were preliminary.
The company also said that as a result of utilizing certain catastrophe reinsurance coverage in connection with this hurricane event it would recognize approximately $2.4 million, after-tax, in accelerated and reinstatement reinsurance premium expense during the fourth quarter of this year.
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