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LONDON (Reuters) - Lloyd's insurer Amlin (AML.L: Quote, Profile, Research) said on Monday it est... Amlin sees $52 mln loss fro
LONDON (Reuters) - Lloyd's insurer Amlin (AML.L: Quote, Profile, Research) said on Monday it estimated a $52 million (30.2 million pound) net loss from hurricane Wilma, but added that it expected a good full-year performance.
The company said the loss estimate for hurricanes Katrina and Rita remained materially unchanged from earlier this month. On November 1 Amlin said losses would be $110 million, but added the loss was difficult to assess and it would use a "prudent" reserve estimate of $130 million for claims.
"Despite the hurricane losses of this year we continue to expect a good financial performance for the business in 2005," Chief Executive Charles said in a statement. He added the diversity of its Syndicate 2001 business had helped it avoid greater losses from the U.S. windstorm season.
Shares in the insurer had risen 0.8 percent to 212-3/4 pence just after the market opened, compared to an all-time high of 228 pence reached on November 7.
Amlin said the forecast for its 2003 year of account had improved, while the forecast for the 2004 year of account remained stable despite the impact of estimated claims of 19 million pounds from the 2005 hurricane season.
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