After an unusually benign first half of the year for
catastrophic loss events, the leading US primary insurers posted
higher loss burdens than most analysts were expecting.
For example, Allstate disclosed second quarter pre-tax catastrophe losses of $960mn last week - well ahead of the $643mn estimated by Stifel Nicolaus analyst Meyer Shields.
Allstate said that four events accounted for over half of the loss, while around $440mn of claims are estimated for June.
Click to enlarge Its rival Travelers...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.