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Arch Capital Group Ltd. expects third-quarter pretax catastrophe-related losses to range from $65 million to $75 million, net of reinsurance recoveries and reinstatement premiums, the Bermuda-based insurer and reinsurer said Tuesday.
The estimates are based on current information, the statement said.
Arch noted that “there are significant uncertainties surrounding the scope of damage for these events, as well as the other global events,” and “actual losses from these events may vary materially from the estimates due to the inherent uncertainties in making such determinations.”
U.S. insured losses from Hurricane Dorian will be between $500 million and $1.5 billion, catastrophe modler Risk Management Solutions Inc. estimated Friday