Three additional insurers reported losses from Hurricanes Katrina and Rita in the third quarter, which in total could amount to more than $160 million, though much of that figure would be assumed by reinsurance.
Horace Mann Educators Corporation, a Springfield, Ill.-based multiline insurer, reported gross estimated losses from Hurricane Katrina alone would be between $65 million and $75 million. Pretax losses from Rita are estimated between $8 million and $10 million, and losses from other catastrophic storms in the third quarter are an estimated $10-to-$12 million.
Horace Mann said the company would take a financial hit between $29 million and $33 million pretax, net of reinsurance recoveries, from Katrina and Rita.
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