RLI Corp. announced an estimated range of pretax losses from Hurricane Katrina of $15 million to $19 million, net of reinsurance ($0.37 to $0.47 per diluted share, after tax). This is based on projections by the company’s catastrophe management systems and claim activity to date.
The company expects most of its reported losses to be in the commercial property, program, construction and marine lines of business.
RLI, a specialty insurer based in Peoria, Ill., offers a diversified portfolio of property and casualty coverages and surety bonds serving “niche” or underserved markets. RLI operates in all 50 states from 23 office locations.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Allstate Doubles Q4 Net Income While Auto Underwriting Income Triples 
Allstate CEO Wilson Takes on Affordability Issue During Earnings Call 
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid 
