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BRIEF-Beazley updates on loss estimate from hurricanes, Mexico earthquake
September 29, 2017 / 6:26 AM / 2 months ago

BRIEF-Beazley updates on loss estimate from hurricanes, Mexico earthquake

Sept 29 (Reuters) - Beazley Plc:

* PRELIMINARY LOSS ESTIMATE - NATURAL CATASTROPHE

* ‍EARLY ESTIMATE OF AGGREGATE NET COST OF RECENT ATLANTIC HURRICANES HARVEY, IRMA AND MARIA AND SERIES OF EARTHQUAKES IN MEXICO IS US$175 - US$275 MILLION​

* ‍IS HOLDING SUBSTANTIAL CATASTROPHE MARGINS AND ESTIMATES THAT AT MIDPOINT THESE LOSSES WOULD REDUCE 2017 EARNINGS BY APPROXIMATELY US$150 MILLION​

* ‍CURRENTLY THERE IS SIGNIFICANT UNCERTAINTY SURROUNDING COST OF THESE EVENTS​

* ‍A FURTHER UPDATE WILL BE INCLUDED IN Q3 TRADING STATEMENT ON 9TH NOVEMBER, AT WHICH TIME COMPANY SHOULD HAVE MUCH MORE INFORMATION​

* ‍TRADING STATEMENT WILL ALSO INCLUDE GUIDANCE ON FULL YEAR COMBINED RATIO​ Source text for Eikon: Full coverage: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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