Menu

Reinsurance News

Heritage pegs Q2 weather and cat losses at $26.8mn

15th July 2020 - Author: Luke Gallin

Florida headquartered property casualty insurance holding company, Heritage Insurance Holdings, Inc., has announced expected net current accident quarter weather losses of roughly $26.8 million in the second-quarter of 2020.

Heritage Insurance LogoHeritage states that its Q2 2020 loss estimate includes approximately $17.6 million of net catastrophe losses.

The company says that weather and catastrophe losses in the period stemmed from “an unusually high” 13 PCS events, which mostly impacted Florida and the Southeast.

Analysts have warned that second-quarter catastrophe losses could be as much as 25% above the average of the last ten years for the re/insurance sector.

Earlier this week, analysts at KBW said that P&C reinsurers’ global cat losses will total $11.8 billion in the second quarter of 2020, stemming mostly from difficult North American weather and civil unrest across the U.S.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
BrokerTech Ventures announces carrier, wholesale partnerships

BrokerTech Ventures, the broker-led platform and accelerator program, has added four insurance firms as partners. The Cincinnati Insurance Companies; RT Specialty; Amerisure...

Close