Arch estimates up to $165m of catastrophe losses
Arch Capital Group Ltd has estimated pretax catastrophe losses of $155 million to $165 million for the fourth quarter across its property casualty insurance and reinsurance segments.
It said its results have been negatively impacted by a set of catastrophe events, including hurricanes Delta and Zeta.
Included in the range of loss estimates is an update to the company’s ongoing exposure to Covid-19 global pandemic claims, which it said are essentially unchanged from the estimate previously disclosed by a quarterly report for the nine months ended September 30.
Bermudian-based Arch is scheduled to report its fourth quarter results on February 9.