Alterra Provides Fourth Quarter Loss Estimates of $50M for Catastrophe Events
Alterra Capital Holdings Limited (NASDAQ: ALTE) today announced that it expects to record fourth quarter 2011 losses from catastrophe events of approximately $50 million, including an initial loss estimate from the severe flooding in Thailand during the fourth quarter of approximately $30 million, pretax and net of reinsurance and reinstatement premiums.
It is expected that losses from the Thai event will largely relate to claims for contingent business interruption. The remaining catastrophe losses recorded in the fourth quarter principally relate to the Japanese Earthquake and Tsunami event.
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