Reinsurance News

Assurant posts Q4 nat cat losses of up to $150m

20th December 2018 - Author: Staff Writer

Assurant, a global provider of risk management solutions, has released a fourth quarter catastrophe loss estimate of between $110 million and $150 million.

AssurantThe figure, reportable in its Global Housing segment, includes an initial view of expected losses related to November’s Camp and Woolsey wildfires in California, as well as a refined range for losses related to hurricane Michael that occurred in October.

Assurant says the California wildfire losses account for between $30 million and $50 million of its overall Q4 cat losses, and were primarily driven by fire damage for lender-placed and manufactured housing products.

Hurricane Michael losses account for between $80 million and $100 million of overall Q4 cat losses and are related to wind damage for lender-placed and other housing products.

The company’s reportable catastrophes include individual catastrophic events that generate losses in excess of $5 million, pre-tax and net of reinsurance and including reinstatement and other premiums.

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