Ivan’s Impact on White Mountains Under $35 Million
The Bermuda-based White Mountains Insurance Group, Ltd. announced preliminary estimates of the impact of Hurricane Ivan on its insurance and reinsurance operations, indicating that its total pre-tax net losses will be less than $35 million.
The announcement noted: “These estimates do not reflect the impact on profit commissions payable to White Mountains by Olympus Re or on the value of the Company’s investment in Montpelier Re.”
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