Arch Announces Catastrophe Loss Estimates
Arch Capital Group Ltd. has established a range of pre-tax catastrophe losses of $205 million to $225 million in the 2020 second quarter.
The company said, “Arch Capital Group Ltd. has established a range of pre-tax catastrophe losses of $205 million to $225 million in the 2020 second quarter across its property casualty insurance and reinsurance segments, net of reinsurance recoveries and reinstatement premiums.
“Included in these estimates is a range of estimates for exposure to COVID-19 global pandemic claims of $170 million to $180 million, and a range of estimates of $35 million to $45 million for losses related to civil unrest claims across the U.S. and other 2020 second quarter catastrophic events.
“For clarity, the range of estimates above for exposure related to the global pandemic is in addition to the $87 million estimate previously disclosed by the Company in its Quarterly Report on Form 10-Q for the 2020 first quarter.”
