Midland Sees At Least $10 Million in Isabel Losses

Cincinnati, Ohio-based Midland Co. announced that it estimates its losses from Hurricane Isabel will likely be in the range of $10 million to $15 million (pre-tax), which after the benefit of reinsurance, would impact earnings per share by 15 to 22 cents per share (diluted, after-tax) in the third quarter.

On Sept. 18, Hurricane Isabel made landfall on the Outer Banks of North Carolina as a Class II hurricane and proceeded inland, ultimately impacting more than a half dozen states.