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Hartford Financial Services Group Inc. expects fourth-quarter 2018 net pretax catastrophe losses of $350 million to $365 million, the insurer said Wednesday.
The estimates include losses stemming from the Camp and Woolsey fires in California and October’s Hurricane Michael, which caused extensive damage to Florida. After taxes, fourth quarter net catastrophe impacts are estimated at approximately $275 million to $290 million, Hartford said in a statement.
Hartford’s announcement came two days after Chubb Ltd. said that it expects to post $225 million in pretax losses from the California wildfires.
Chubb also said Monday it expects that its losses from Hurricane Michael will be at the upper end of its previously disclosed range of $150 million to $250 million before taxes.
Claims activity from Hurricane Michael, which came ashore Oct. 10 as a Category 4 storm, is in full swing almost two weeks later, industry sources said.