Keefe Bruyette & Woods Comments On Transatlantic Holdings Following Japan Earthquake & Aussie Floods

Transatlantic Holdings TRH announced estimated losses from the Japanese earthquake and tsunami of $240 million after tax. Combined with updated losses from Aussie floods and the NZ quake, TRH expects 1Q11 cats of $355 million after tax. As a result of this announcement, Keefe Bruyette & Woods is lowering its EPS estimates and price target to $53 and maintains a Market Perform rating. Risks to the price target include demand for insurance products, interest rate fluctuations, the adequacy of loss reserves, and catastrophic loss activity. TRH closed Tuesday at $49.20