Insurer Raises Quake Loss Estimate: TIG Holdings Inc., a former unit of Transamerica Corp., increased its estimated pretax losses from January's Northridge earthquake to $47 million after reinsurance. The property and casualty insurance holding company said it has reinsurance protection for 75% of gross losses that total between $30 million and $50 million and 95% of gross losses of between $50 million and $200 million. The estimate increases the expected losses by $15 million, which includes reinsurance reinstatement premiums of $12 million.
From Times Staff and Wire Reports
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