- Arch Capital Group ( NASDAQ: ACGL ) on Tuesday said it estimates pre-tax catastrophe losses of $530M to $560M in Q3 across its property casualty insurance and reinsurance segments.
- The catastrophe losses stemmed primarily from natural disasters that occurred in Q3, the company said in a statement .
- These disasters included Hurricane Ian, U.S. convective storms, Typhoon Nanmadol and the June French hailstorms.
- The company expects losses tied to Hurricane Ian to be split about 70%-30% between its reinsurance and insurance businesses, respectively.
- ACGL has about $15.1B in capital as of June 30, 2022. It provides insurance, reinsurance and mortgage insurance on a worldwide basis through its units.
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Arch Capital Group sees Q3 catastrophe losses of $530M-$560M for P&C, reinsurance units