NU Online News Service, July 23, 3:38 p.m.EDT

Following the heavy catastrophe year of 2011, it is notsurprising that the levels of second-quarter catastrophe lossestaken by insurers look to be much less despite what has been calledthe third-costliest spring thunderstorm season inU.S.history.

An analysis by SNL Financial of publicly-traded insurancecompanies finds that compared to last year, expected second-quartercatastrophe losses will be far less than in 2011.

Nevertheless, the second three months of 2012 was not lacking ofcostly events.

Allstate Corp. estimates about $820 million in second-quarter pretaxcatastrophe losses from 30 events–far less than the $2 billionestimate it released at this time a year ago after tornadoes rippedthrough a large portion of the U.S., including Joplin, Mo.,Tuscaloosa, Ala. and the many Plains States.

A total of 13 events during the 2012 second quarter have ledHartford Financial Services to predict about $190 millionafter-tax, or about $300 million pretax, in catastrophe losses. This is compared to$290 million in after-tax losses the insurer took during thesecond quarter last year from a dozen events. These losses tacked18.2 points to the combined ratio for the company's commercial andconsumer markets.

Chubb Corp., which releases second-quarter results on July 26after the market closes, estimates pretax second-quarter losses ofup to $240 million from primarily 13 hail and windstorm events. TheWarren, N.J.-based insurer booked pretax catastrophe losses of $329million a year ago.

In reporting second-quarter results, Travelers says catastrophe losses fell to $357 million aftertax compared to $1.1 billion after tax in the prior year's secondquarter. The difference in weather losses allowed Travelers toreport second-quarter net income of $499 million compared to a netloss of $364 million a year ago.

Worldwide insured catastrophe losses totaled $12 billion duringthe first half of 2012, compared with $82 billion for the firsthalf of 2011, according to Munich Re. Much of the damage infirst-half 2012 occurred in the U.S., with insured losses of about$9.3 billion. Thunderstorm activity, including tornadoes and hail,accounted for about $8.8 billion of the U.S. losses, according tothe Insurance Information Institute.