Argo Group Provides Preliminary Catastrophe Loss Estimate for Hurricane Sandy
Argo Group International Holdings (Nasdaq: AGII) announced today it expects its 2012 fourth quarter results to include pre-tax catastrophe losses, related to Hurricane Sandy, of between $45 million and $55 million, net of reinsurance and reinstatement premiums.
In reaching this estimate, the Company has relied on information currently available from portfolio modeling and assessments of the exposures insured under individual policies and industry loss estimates. Due to the preliminary nature of the information used to determine this estimate, the ultimate cost to the Company from this event may differ materially from the foregoing estimate.
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