Property & casualty insurer, Kingstone Companies, Inc., has announced its expectation to record estimated pre-tax catastrophe losses of between $8.5 million to $9 million, net of reinsurance, for the third-quarter of 2020.
The company explains that these losses are from Hurricane Isaias and three other smaller PCS events that occurred during the period.
The estimated pre-tax losses indicated above are based on information available as of October 7th, 2020, and management’s initial review of operations for the third quarter.
Kingstone notes that the estimates remain subject to change based on management’s ongoing review of the firm’s Q3 results and are forward-looking statements. Furthermore, says the firm, the actual losses may materially differ.
