XL Group Estimates $1.33B Loss From Hurricanes Harvey, Irma And Maria

 Friday, October 13, 2017

 Canadian Underwriter

XL Group Ltd. reported on Wednesday a preliminary estimate of approximately US$1.33 billion relating to Hurricanes Harvey, Irma and Maria. For the third quarter of 2017, total catastrophe losses, including smaller loss events, are preliminarily estimated at approximately US$1.48 billion. These preliminary estimates are pre-tax and net of reinsurance, reinstatement and adjustment premiums and redeemable non-controlling interest. On an after-tax basis, the preliminary estimate of total cat net losses for the quarter is approximately US$1.35 billion, XL said in a press release on Wednesday.