What’s New: In brief (October 18, 2005)

Transatlantic Holdings Inc. recently updated its catastrophe estimates and reports that it expects its net losses from Hurricane Katrina to be about US$195 million after tax. Previously, Transatlantic estimated aftertax losses of US$176 million from Katrina. The Company also expects its net loss from Hurricane Rita to be US$33 million after tax. The New York-based reinsurer expects total catastrophe losses for the Q3 to be about US$257 million after tax. Transatlantic faces losses from hurricanes and floods in North America and Europe.

The Canadian Insurance Congress has finalized arrangements for the 2006 Congress. The conference will be held from June 25 to 27, 2006 at the Delta Prince Edward Hotel in Charlottetown, P.E.I. The 2006 Conference will showcase changes to the format of the Congress including the Golf Tournament being held on the afternoon of Monday, June 26 at the historic Belvedere Course. Participants will also enjoy a traditional lobster feast on the night of Tuesday, June 27. The Congress website will be updated as further plans are finalized.