W. R. Berkley Sees $50M-$60M Cat Losses for Q3

October 12, 2011

Greenwich, Conn.-based insurer W. R. Berkley Corp. is estimating Q3 catastrophe losses in the range of $50 million to $60 million, before tax. The loss estimate is net of reinsurance recoveries and is inclusive of reinstatement premiums.

The company is scheduled to release the latest quarterly results on Oct. 26.

A number of other p/c insurers have been releasing their third-quarter cat loss estimates. The Chubb Corp. said it is estimating $400 million to $475 million in losses pre-tax. Selective Insurance is estimating $70 million pre-tax for its cat losses. Specialty insurer Assurant said it is estimating $80 million to $85 million before tax in cat losses for its latest quarter.

W. R. Berkley operates in five segments of property/casualty insurance: specialty insurance, regional p/c insurance, alternative markets, reinsurance and international. Its specialty business insurance offers coverage for clients including National Football League teams.

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