Arch estimates up to $225mn Q2 cat losses
Arch Capital has estimated pre-tax net catastrophe losses of $205mn to $225mn across its property casualty insurance and reinsurance segments in the second quarter, including $170mn to $180mn for Covid-19 claims.
Heritage expects $27mn of Q2 weather losses
Florida-based Heritage Insurance Holdings has estimated it will take $26.8mn of net current accident quarter weather losses in the second quarter.
Selective takes $83mn Q2 cat hit as storms and civil unrest bite
Selective Insurance Group’s soon-to-be-published second quarter results will include an estimated $83mn of pre-tax net catastrophe losses, $61mn of which will be from two April storms and the civil unrest that arose across the US.
The Hanover to take $148mn Q2 cat losses
The Hanover Insurance Group said it expects to take a $148mn pre-tax hit from second quarter cat losses in its upcoming earnings, driven primarily by hail and wind storms in the Midwest in April and including the impact of property losses from civil unrest across the US.
CinFin to take $231mn in Q2 cat losses and $65mn Covid-19 hit
US insurer Cincinnati Financial has preannounced second quarter pre-tax cat losses of around $231mn and a $65mn charge for pandemic-related incurred losses that includes a significant allocation to legal costs in defense of business interruption (BI) claims.
KCC estimates Fay insured losses at $400mn
Modelling firm Karen Clark & Company (KCC) has pegged insured losses from Tropical Storm Fay to be close to $400mn.
Munich Re the latest carrier to settle Merck NotPetya dispute
Munich Re has joined Allianz and two other carriers in settling a legal dispute with pharmaceutical giant Merck relating to losses from the 2017 NotPetya cyber attack that led to a claim for more than $1.3bn on its property policy, The Insurer can reveal.
WR Berkley’s $145mn Q2 cat loss estimate includes $85mn Covid hit
WR Berkley expects to take an $85mn pre-tax hit from Covid-19 related losses in its second quarter results, with the specialty insurer estimating a further $60mn knock from civil unrest and severe weather events during the period.
ICA pegs summer cats losses at $3.7bn
Insured losses across Australia stemming from summer catastrophe events now stands at A$5.3bn ($3.69bn), according to the Insurance Council of Australia (ICA).
Insured losses from Missouri’s May 2019 tornadoes hit $190mn
Insured losses from the May 2019 tornadoes that ravaged several parts of Missouri, causing significant damage to both residential and commercial properties, reached $190mn, according to the state’s insurance regulator.
Universal expects Q2 cat losses to be $17mn above plan
Florida-based carrier Universal Insurance Holdings has estimated second quarter incurred weather events above plan during the second quarter of $17mn pre-tax, net of reinsurance recoveries, or $12.8mn after tax.
June NA severe weather events cost insurers more than $2.5bn
Insured catastrophe losses from severe weather in June in the US could exceed $1.7bn while the Calgary hailstorm was one of Canada’s costliest severe convective storm events on record with more than $900mn of insured losses expected, according to analysis of the latest monthly figures from Aon.
Höegh Xiamen declared $26mn constructive total loss; Norwegian Hull Club leads H&M
The car carrier Höegh Xiamen has been declared a constructive total loss (CTL) at $26mn after catching fire at a cargo facility in Jacksonville, Florida last month.
CSU ups hurricane season estimates
The Colorado State University (CSU) has once again revised upwards its outlook for the 2020 Atlantic Hurricane season, now predicting 20 named storms, up from its previous estimate of 19.
Argo expects $10mn-$20mn of Q2 Covid losses
Argo Group International Holdings expects to record between $10mn and $20mn in Covid-19 losses in its second quarter results, and has also warned that travel restrictions resulting from the pandemic could make it harder to maintain its tax-related operating protocols.
Chubb to take $1.81bn Q2 hit from Covid-19, nat cats and civil unrest
Chubb has estimated its second quarter results will include $1.81bn of pre-tax global net catastrophe losses – $1.37bn of which come from Covid-19 pandemic losses – as well as $259mn of reserve development for US child molestation claims.
Bermuda alternative capital UW losses hit $3bn in 2018: BMA
Analysis of statutory filings by the Bermuda Monetary Authority (BMA) shows that underwriting losses from alternative capital on the island widened from $2.7bn in 2017 to $3.0bn in 2018.
Tyson Foods fire loss halves to below $150mn
Underwriters in the food processing and manufacturing segment have been given some respite as estimated losses from the fire and shutdown of a Tyson Foods beef processing plant last August have more than halved to come in at less than $150mn, The Insurer can reveal.