American Safety Insurance Holdings, Ltd. (ASI: Quote) said Tuesday that its second quarter results will include weather related property losses of about $3.0 million to $3.5 million after tax.
The losses were in the company's dealer open lot program, which is in runoff, and were related to severe hail storms in the United States.
As a result of these losses, the company expects second quarter earnings to be in the range of $0.20 to $0.25 per share.
Analysts polled by Thomson Reuters currently expect the company to earn $0.44 per share for the second quarter.
The company expects to release second quarter financial results on August 1, after the close of the market.
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by RTT Staff Writer
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