From Reuters:
Losses from Hurricane Maria and other recent
natural disasters, including hurricanes Irma and Harvey, the Mexico City
earthquake and other events, have led global insurers and reinsurers to
issue profit warnings.
Below are statements
from insurers and reinsurers in the wake of the catastrophes (in
alphabetical order): AIG American International Group Inc said it
expected to book pre-tax catastrophe losses of about $3 billion in the
third quarter mainly related to hurricanes Harvey, Irma and Maria.
The
company estimated pre-tax losses of about $1 billion each from Harvey
and Irma, up to $700 million from Maria and additional catastrophe
losses, including earthquakes in Mexico, of about $150 million.
ALLSTATE
Allstate Corp, the second-largest U.S. homeowners’ insurer based on
premiums collected, estimated pre-tax catastrophe losses of $593
million, net of reinsurance recoveries, for August.
BEAZLEY
Lloyd’s of London insurer Beazley said losses from hurricanes Harvey,
Irma and Maria and a series of earthquakes in Mexico would reduce its
2017 earnings by about $150 million.
CHUBB U.S.
property and casualty insurer Chubb Ltd estimated after-tax losses of
up to $1.28 billion from hurricanes Harvey and Irma. It expects insured
losses of about $520 million from Harvey and $640 million to $760
million from Irma after tax.
The world’s largest listed property
and casualty insurer estimated the maximum net insurance and net
reinsurance losses related to Hurricane Maria would be about $200
million after tax for the third quarter.
HANNOVER
RE German reinsurer Hannover Re said it could miss its 2017 profit
target because of claims from the natural disasters, its first such
warning since the 2008 financial crisis.
HCI
GROUP HCI Group’s principal operating subsidiary, Homeowners Choice
Property & Casualty Insurance, a provider of home insurance in
Florida, issued a preliminary estimate indicating its losses related to
Hurricane Irma would be $100-$300 million.
HISCOX
Lloyd’s of London underwriter Hiscox Ltd estimated it would face net
claims totalling about $225 million from Harvey and Irma.
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