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<div class="mainsection articledetails">
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    <h2 class="headArticle">Swiss Re latest company to estimate cat losses</h2>
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    <label class="mngDate">10/20/2017 10:03:00 AM</label>

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                <span class="tags"><a href="/Section/Topics/99" + "/" +AIG>AIG</a></span>
                <span class="tags"><a href="/Section/Topics/434" + "/" +Axis>Axis</a></span>
                <span class="tags"><a href="/Section/Topics/452" + "/" +Chubb Ltd.>Chubb Ltd.</a></span>
                <span class="tags"><a href="/Section/Topics/119" + "/" +Everest Re>Everest Re</a></span>
                <span class="tags"><a href="/Section/Topics/136" + "/" +Lloyd&#39;s of London>Lloyd&#39;s of London</a></span>
                <span class="tags"><a href="/Section/Topics/142" + "/" +Munich Re>Munich Re</a></span>
                <span class="tags"><a href="/Section/Topics/147" + "/" +Swiss Re>Swiss Re</a></span>
                <span class="tags"><a href="/Section/Topics/148" + "/" +The Travelers Cos.>The Travelers Cos.</a></span>
                <span class="tags"><a href="/Section/Topics/157" + "/" +Zurich>Zurich</a></span>
                <span class="tags"><a href="/Section/Topics/176" + "/" +Switzerland>Switzerland</a></span>
                <span class="tags"><a href="/Section/Topics/64" + "/" +Catastrophes>Catastrophes</a></span>
                <span class="tags"><a href="/Section/Topics/76" + "/" +P/C Insurers>P/C Insurers</a></span>
                <span class="tags"><a href="/Section/Topics/504" + "/" +Reinsurance>Reinsurance</a></span>
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            <p><p>(Reuters) – Swiss Reinsurance Ltd. on Friday estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third quarter.</p>

<p>The catastrophes have led global insurers and reinsurers to issue profit warnings.</p>

<p>Below are statements from insurers and reinsurers in the wake of the catastrophes, in alphabetical order:</p>

<p>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 and additional catastrophe losses, including earthquakes in Mexico, of about $150 million.</p>

<p>Allstate Corp. estimated pre-tax catastrophe losses of $593 million, net of reinsurance recoveries, for August.</p>

<p>Arch Capital Group Ltd. estimated preliminary after-tax losses between $285 million and $345 million from hurricanes Harvey, Irma and Maria, the Mexican earthquakes, and other more minor global events.</p>

<p>Argo Group International Holdings Ltd. estimated preliminary pre-tax catastrophe losses of $85 million to $110 million from hurricanes Harvey, Irma and Maria as well as the earthquake in Mexico City.</p>

<p>Aspen Insurance Holdings Ltd. estimated about $310 million in pre-tax losses related to hurricanes Harvey, Irma and Maria and $50 million from other events, the largest of which relate to weather-related losses and the Mexican earthquakes.</p>

<p>Axis Capital Holdings Ltd. said its initial estimate of net financial impact from catastrophe losses in the quarter ended Sept.30 was $578 million. The estimate included losses from Hurricanes Harvey, Irma, and Maria and the earthquakes in Mexico.​</p>

<p>Beazley P.L.C. said losses from hurricanes Harvey, Irma and Maria and a series of earthquakes in Mexico would reduce its 2017 earnings by about $150 million.</p>

<p>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. Chubb estimated the maximum net insurance and net reinsurance losses related to Hurricane Maria would be about $200 million after tax for the third quarter.</p>

<p>EMC Insurance Group estimated third-quarter catastrophe and storm losses at about $29.4 million​.</p>

<p>Everest Re Group Ltd. estimated pretax catastrophe losses of $1.2 billion, with a net economic impact of $900 million after taxes from Hurricanes Harvey, Irma, and Maria and the earthquakes in Mexico.</p>

<p>HCI Group Inc.’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 million to $300 million.</p>

<p>Hiscox Ltd. estimated it would face net claims totaling about $225 million from Harvey and Irma.</p>

<p>Lancashire Holdings Ltd. said it estimated that its losses from hurricanes in the Caribbean and southern United States and earthquakes in Mexico would be between $106 million and $212 million.</p>

<p>Lloyd's of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would hit the market’s profitability. Lloyd’s 80-plus syndicates have already paid out more than $160 million in claims from Harvey and more than $240 million from Irma.</p>

<p>Maiden Holdings Ltd. said it expected a net impact from Harvey on its third-quarter results of $6 million to $18 million and $2 million to $13 million from Irma.</p>

<p>Mapfre S.A. said the size and frequency of hurricanes in the Caribbean and earthquakes in Mexico would imply a net cost of between $177 million and $237 million on its attributable result for the year.</p>

<p>MS&AD Insurance Group Holdings Inc. estimated up to $978.65 million in incurred losses related to the hurricanes and earthquakes in the Americas.</p>

<p>Markel Corp. said it expects to report third-quarter pretax underwriting losses of $503 million, net of reinstatement premiums, from hurricanes Harvey, Irma and Maria as well as the Mexico City earthquake.</p>

<p>Munich Reinsurance Co. warned it could miss its profit target this year, the first major reinsurer to flag a hit to earnings from damage caused by hurricanes Harvey and Irma.</p>

<p>Proassurance Corp. estimated net pretax losses from hurricanes Harvey, Irma and Maria to be about $7.5 million.</p>

<p>QBE Insurance Group, revealed a $600 million earnings hit on its business from hurricanes in the Atlantic and earthquakes in Mexico.</p>

<p>RenaissanceRe Holdings Ltd. said its initial estimates pointed to $625 million of "net negative impact" from hurricanes Harvey, Irma and Maria and the Mexico City earthquake.</p>

<p>RLI Corp. said it expects third-quarter pretax losses of $30 million to $40 million from Harvey and Irma, net of reinsurance.</p>

<p>RSA Group P.L.C. said its business would see catastrophe losses from the U.S., Caribbean and Mexico, affecting September results in the marine and international portfolios.</p>

<p>Scor S.E. estimated a $505.94 million impact from hurricanes Harvey, Irma and Maria and the Mexico earthquake.</p>

<p>Travelers Cos. Inc. recorded $700 million in catastrophe losses from the destruction wrought by hurricanes Harvey and Irma.</p>

<p>Universal Insurance Holdings Inc. estimated gross losses from Hurricane Irma, from Florida and other southeastern U.S. states, will be $350 million to $450 million. The company added that because of its “substantial” reinsurance program, its expected net pretax losses relating to the hurricane were $35 million.</p>

<p>Validus Holdings Ltd. estimated net losses from hurricanes Harvey, Irma and Maria and the Mexico City earthquake of $412.7 million.</p>

<p>XL Group Ltd., which does business as XL Catlin, said that its preliminary estimate of net losses totaled about $1.33 billion due to the three hurricanes. Preliminarily estimated third-quarter catastrophe losses including smaller loss events totaled about $1.48 billion.</p>

<p>Zurich Insurance Group Ltd. said that Farmers Re faced a hit of no more than $20 million in the second half from catastrophes such as hurricanes Irma and Harvey. The insurer estimated that hurricanes Harvey, Irma and Maria would trigger around $700 million in claims in the third quarter net of reinsurance and before tax.</p>

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