Goshawk Reports $10.5 Million Loss for 2001
Goshawk, a leading Lloyd’s syndicate operator, reported a £7.4 million ($10.5 million loss for the year 2001.
An earlier profit warning had indicated that the need to strengthen its reserves would have an effect on its earnings. Most of the additional £11.5 million ($16.4 million) it set aside will go to cover claims resulting from the Sept. 11 attacks.
The company, which recently invested $142 million in new capital to establish Goshawk Re in Bermuda, predicted that earnings would improve as premiums increased this year.
.
Popular Today
- Buffett’s Berkshire Reveals $6.7 Billion Stake in Insurer Chubb
- Greater Chance of Major Hurricane on East Coast This Year, Less in Gulf, Scientist Says
- Farmers to Resume Offering Key Lines of Business Insurance in California
- High Court: E-Scooter Rider Hit by Car Not Eligible for No-Fault PIP Benefits