Arch Capital Group Ltd. announced it expects to report third quarter 2019 pre-tax catastrophe losses of approximately $65 million to $75 million, net of reinsurance recoveries and reinstatement premiums.
These losses are primarily from Hurricane Dorian and Typhoon Faxai.
At this time, there are significant uncertainties surrounding the scope of damage for these events, as well as the other global events, said Arch. The company’s estimate for these events is based on currently available information derived from modeling techniques, industry assessment of exposure, preliminary claims information obtained from the company’s clients and brokers to date and a review of in-force contracts.
Source: Arch Capital Group Ltd.
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