Hurricane Hurts Centris
Bloomberg News
Insurer Centris Group Inc. said it expects to report a third-quarter loss of about 10 cents a share, primarily because of “the worst year for catastrophic losses since the Northridge earthquake in 1994.”
Costa Mesa-based Centris expects to incur a third-quarter charge of about 40 cents a share from damage by Hurricane Georges and storms earlier in the year in the Midwest and Southeast.
Analysts surveyed by First Call had expected the Costa Mesa company to report earnings of 26 cents a share for the three months. The stock slipped 19 cents a share Tuesday to $8.06.
