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Home / Insurance / Arc sticks Q1 cat losses of $ 180 million to $ 190 million

Arc sticks Q1 cat losses of $ 180 million to $ 190 million



Arch Capital Group Ltd. said Friday that its first-quarter disaster losses will be between $ 180 million and $ 190 million across its entire property / accident insurance and reinsurance segments.

The results from the first quarter come from North American winter storms Uri and Viola in February and "other, less global events", says Arch.

Estimates are net after reinsurance recovery and repayment premiums and include a de minimis amount for ongoing exposure to COVID-19 global pandemic claims. [19659002] The initial estimates for the winter storms Uri and Viola are based on a series of industry-insured losses of 14 to 16 billion dollars. These losses are expected to be divided approximately 80% / 20% between Arch's reinsurance and insurance operations, respectively.

Arch said that estimates include "significant uncertainties" and that "actual losses from these events may vary significantly."

On Thursday, RenaissanceRe Holdings Ltd reported a similar estimate of $ 1

80 million in cat losses in the first quarter. On Wednesday, Axis Capital Holdings Ltd. said that it would take a $ 115 million dollar first quarter.

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