For the third-quarter of 2017, Arch Capital Group Ltd. has provided an estimated loss of between $285 million and $345 million from catastrophe events, which includes the Mexico earthquakes, and Hurricanes Harvey, Irma, and Maria.
The firm’s estimate is based on a total re/insurance industry loss for the quarter of between $80 billion and $100 billion, and the up to $345 million figure is net of reinsurance and reinstatement premiums.
Arch also expects the tax rate applicable to these cat losses to be lower than its effective annual tax rate on pre-tax operating income, owing to the mix of cat losses by jurisdiction.
The firm stresses uncertainty surrounding the losses, and notes that actual losses may differ in light of this.
