NU Online News Service, April 1, 1:41 p.m. EDT
Hamilton, Bermuda-based insurer Ariel Reinsurance Co. says it expects first-quarter catastrophe events will cost the company between $35 million and $50 million, but it expects to report positive net income for the period.
The insurer, a subsidiary of Ariel Holdings Ltd., says the catastrophe events in the first quarter of this year include the Christchurch earthquake in New Zealand; Cyclone Yasi; Australian flooding, Gryphon Alpha (a deep well oil rig that went adrift in the North Sea in February); and the Tohoku Earthquake in Japan.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
