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TPRE - Assurant Expects $46 Million Q3 Cat Loss Pre-Tax And After Reinsurance
Third Point Reinsurance Ltd.
U.S. specialty insurance group Assurant ([[AIZ]]) has said that it is expecting hurricane Dorian to drive the bulk of an expected $46 million of pre-tax and after reinsurance catastrophe losses for the third quarter of 2019.
Assurant said on Wednesday that hurricane Dorian is expected to drive roughly 70% of its catastrophe losses for Q3, while loss creep from prior years drove the rest.
Hurricane Dorian is estimated to have cost the company $33 million before tax and after taking into account reinsurance, while tropical storm Imelda is estimated at just $7 million and loss