Northbridge Financial Corporation

Northbridge Financial Corporation

September 08, 2005 08:30 ET

Northbridge Announces Loss Estimates for Hurricane Katrina

TORONTO, ONTARIO--(CCNMatthews - Sept. 8, 2005) -

(Note: All dollar amounts in this release are expressed in U.S. dollars.)

Northbridge Financial Corporation (TSX:NB) announces that its initial estimate of aggregate potential net losses relating to Hurricane Katrina is in the range of $20 million to $30 million before taxes. These estimates are based on a preliminary review and on an estimated total insured loss from Hurricane Katrina of $30 billion. Northbridge recognizes that at this early stage it is not possible to make a calculation of its financial exposure to claims relating to Hurricane Katrina with a high degree of certainty.

Northbridge, which through its subsidiaries provides property and casualty insurance products primarily in the Canadian market as well as in selected U.S. and international markets, is one of the largest commercial property and casualty insurers in Canada. Northbridge common shares are listed and traded under the symbol NB on the Toronto Stock Exchange. Visit Northbridge at for more information.

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