Filed Under:Markets, Commercial Lines

HCC 4Q Cat Losses in Excess of $30M

Houston-based HCC Insurance Holdings, Inc. says fourth-quarter catastrophe losses will likely be between $30 million and $35 million, and the company’s chief executive warned of substantial rate increases in the future.

The $30 million-plus figure is after reinsurance and reinstatement premium, and is pretax. The company says the losses relate to Superstorm Sandy and primarily impact the company’s property-insurance business.

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