Assurant, Universal Insurance Detail Hurricane Losses
October 22 2018 - 07:13PM
Dow Jones News
By Josh Beckerman
Assurant Inc. (AIZ) expects third-quarter pretax catastrophe
losses of about $66 million to $70 million for Hurricane Florence,
a storm expected to result in $5 million of net pretax losses and
loss adjustment costs at Universal Insurance Holdings Inc.
(UVE).
For this month's Hurricane Michael, Assurant said Monday that
its preliminary estimate is for pretax losses of $55 million to $85
million at its Global Housing segment.
Universal estimates pretax losses and loss adjustment expenses
of $35 million for Hurricane Michael, which could be reduced
depending on reinsurance recoveries.
Earlier Monday, Kemper Corp. (KMPR) said it expects
third-quarter pretax catastrophe losses of $20 million to $25
million for a wildfire and Hurricane Florence.
Last week, Allstate Corp. (ALL) said September pretax
catastrophe losses totaled $177 million, with roughly half of that
due to Hurricane Florence.
Assurant also expects $16 million to $19 million of
third-quarter pretax losses due to increased reserves on claims for
2017's Hurricane Maria.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 22, 2018 18:58 ET (22:58 GMT)
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