Companies continue to report the impact of second-quarter catastrophes, with Bermuda-based Arch Capital Group Ltd. saying it expects losses of between $90 million and $110 million, of which 15 percent is updated first-quarter loss estimates.
Arch says the second-quarter events include U.S. storms in April and May and the most recent earthquakes in Christchurch, New Zealand, which occurred in mid-June.
The April and May U.S. storms are expected to cost Validus Holdings Ltd. between $55 million and $75 million, net of reinstatement premiums and reinsurance, retrocessional and other recoveries. The losses are from flooding, hail, tornadoes and wind.
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