Hamilton, Bermuda, Aug. 20, 2004 (PRIMEZONE) -- Alea Group Estimates Hurricane Charlie Impact
LONDON (20 August 2004) -- A preliminary estimate of Alea Group Holdings (Bermuda) Ltd. losses from Hurricane Charlie indicates that the event is unlikely to exceed net $10 million cost. This is within annual loss expectations for the group's limited property catastrophe portfolio. Alea Group interim results for the six months ended 30 June 2004 will be announced on 21 September 2004.
ABOUT ALEA GROUP
Alea is a global reinsurance and specialty insurance company with expertise in a wide range of property and casualty reinsurance, insurance, alternative risk and finite risk products and services. Alea maintains a significant presence in major insurance and reinsurance markets worldwide. Alea is headquartered in Hamilton, Bermuda and has ongoing operations in the United Kingdom, the United States, Bermuda, Switzerland, Australia and Jersey. The Company's largest shareholder is an affiliate of Kohlberg Kravis Roberts & Co. Alea is publicly traded on the London Stock Exchange under the ticker "ALEA". For more information on Alea Group, see www.aleagroup.com.
Certain statements in this announcement are or may constitute forward-looking statements. Because such statements are inherently subject to risks and uncertainties, actual results may differ significantly from those expressed or implied by such forward-looking statements. We caution you not to place undue reliance on such forward-looking statements. We do not undertake any obligation (except reporting obligations imposed on us in relation to our listing on the London Stock Exchange) to update such forward-looking statements to reflect events or circumstances occurring after the date hereof.
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