- NI ( NASDAQ: NODK ) expects to see pre-tax catastrophe losses of ~$49M, net of reinsurance, for Q2.
- Losses were primarily in the Home/Farm and Private Passenger Auto segments driven by multiple severe storms in South Dakota and Nebraska.
- Michael J. Alexander, President and CEO, stated, “Our companies have consistently provided best-in-class underwriting while also identifying and executing growth opportunities. However, similar to the industry, we cannot predict the frequency or severity of storms across our geographical footprint. While there is still some uncertainty surrounding the number of claims from these events, our primary efforts are to deliver high-quality, prompt and efficient claims service in order to provide a positive experience for both our agents and policyholders.”
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NI expects sees $49M loss in Q2 owing to severe storms in South Dakota and Nebraska