Assurant has revealed that it expects its Global Housing segment to record approximately $46 million pre-tax, or $36 million after-tax, of reportable catastrophes for Q2 of 2024.
As per the firm, no single event is anticipated to exceed $15 million in pre-tax losses in Q2.
Assurant explained that reportable catastrophe losses were driven by five events in the quarter, primarily within lender-placed products from severe convective storm events across the Southwest, Midwest and Southeast.
The firm’s reportable catastrophes include individual catastrophic events that generate losses over $5 million, pre-tax, net of reinsurance and client profit sharing adjustments, including reinstatement and other premiums.
This increase was mainly due to higher segment earnings and lower reportable catastrophes within Global Housing.
Assurant announced that it will fully report its Q2 2024 results on August 6, 2024.
