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USF&G INCREASES ESTIMATE OF LOSSES DUE TO HURRICANE ANDREW

 USF&G INCREASES ESTIMATE OF LOSSES DUE TO HURRICANE ANDREW
 BALTIMORE, Oct. 15 /PRNewswire/ -- USF&G Insurance today reported its estimate of net losses due to Hurricane Andrew has increased to approximately $80 million. The impact of these losses on the company's surplus has been offset by capital gains realized during the third quarter. These gains were also taken to maintain the company's statutory surplus position in order to capitalize upon any turn in the property/casualty underwriting cycle.
 The estimated net loss of $80 million, which is after taxes and reinsurance, is a revision of earlier estimates of $45 million released on Sept. 18. Data released today is based upon a thorough assessment of exposures and claims received. While the number of anticipated claims has not materially changed, the average severity of the individual losses has increased due to construction costs that are much higher than originally anticipated.
 United States Fidelity and Guaranty Company (USF&G Insurance), founded in 1896, is one of the nation's largest property/casualty insurers. It is the principal operating subsidiary of USF&G Corporation (NYSE: FG).
 -0- 10/15/92
 /CONTACT: Kerrie Burch-DeLuca of USF&G, 410-547-3573/
 (FG) CO: USF&G Insurance ST: Maryland IN: INS SU:


TW -- DC005 -- 0265 10/15/92 09:32 EDT
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Publication:PR Newswire
Date:Oct 15, 1992
Words:212
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