Selective Insurance Group said today that catastrophe losses will amount to more than $8 million and that it suffered investment related losses totaling more than $20 million in the third quarter.
The Branchville, N.J.-based insurer said catastrophe losses, primarily from Hurricane Ike in the Midwest were about $8.3 million. The impact from catastrophe losses will translate into a loss of 16-cents a share and the company's combined ratio will deteriorate by 3.4 points for the quarter.
For the six months ending June 30, the company reported a combined ratio of 98.5.
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