Safeco: Storm Losses To Hurt Quarterly Profit
NU Online News Service, May 20, 12:37 p.m. EDT?Safeco Corporation said that claims from recent Midwest and Southern tornadoes, as well as losses from Texas hailstorms earlier in the quarter, will hurt the company's second-quarter profit.
The company put its estimate for claims at some $90 million in pre-tax losses, ending the recent trend of relatively low weather-related catastrophe losses for the company, Safeco said.
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