Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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Arch Capital sets Q3 cat losses at up to $345mn

Ted Bunker and Iulia Ciutina 12 October 2017

Arch Capital Group pegged its third quarter catastrophe losses at as much as $345mn after taxes, net of reinsurance recoveries and reinstatements, mainly from the period's three hurricanes and two major earthquakes in Mexico.

The Bermuda-based carrier put the low-end of the loss range at $285mn after tax, noting late today: "Due to the mix of estimated catastrophic losses by jurisdiction, we anticipate the tax rate applicable to these catastrophic losses to be lower than our effective annual tax rate...

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