BRIEF-Federated National Holding estimates Hurricane Matthew aggregate gross liabilities about $77 mln

martes 11 de octubre de 2016 09:34 GYT
 

Oct 11 (Reuters) - Federated National Holding Co :

* Federated National Holding - currently estimates that aggregate gross liabilities as a result of Hurricane Matthew will be approximately $77 million

* Federated National Holding Co- believes that its losses, net of reinsurance, should not exceed $18.45 million and may be as low as $8 million

* Federated National Holding -initial loss estimate in Florida is $75 million in gross losses, $18.45 million in net losses retained after credit for reinsurance

* Federated National Holding Co- Federated National's initial loss estimate in South Carolina is $2 million in gross losses

* Federated National's total net retention should not increase beyond $18.45 million - SEC filing

* Federated National Holding -combined effect of additional separate reinsurance agreement could reduce net losses from storm in all states to as low as $8 million

* Federated National Holding-losses in South Carolina has separate reinsurance agreement to cover losses incurred outside of Florida from $8 million to $18.45 million

* Federated National Holding - Monarch National Insurance Company's losses in connection to this hurricane are currently expected to be immaterial Source text: (bit.ly/2dtgyfj) Further company coverage: