Ace says it expects about $380 million in losses in the fourthquarter related to Superstorm Sandy.
|The estimate is after tax, net of reinsurance, and includesreinstatement premiums, says the Zurich-based multiline P&Cinsurance group.
|Meanwhile, Hamilton, Bermuda-based Montpelier Re Holdings saysit predicts about $95 million in pretax losses from Sandy in 2012'slast quarter.
|The reinsurer says its prediction of fourth-quarter losses isalso net of reinsurance, and includes reinstatements.
|The late-October storm brought strong winds and storm surge tothe Northeast. Catastrophe modelers say Sandy could cause up to$25 billion in losses for the insurance industry.
|The estimates are the latest from companies prepping investorsas fourth-quarter earnings announcement season approaches.
|Late Friday, American International Group (AIG) put losses at anestimated $1.3 billion, after tax and net of reinsurance. Thecompany says it to make a capital contribution to its U.S. propertyand casualty insurance subsidiaries of $1 billion from existing,readily available funds.
|Allstate Corp. says it expects $1.08 billion in pretaxcatastrophe losses for the month of October, primarily due toSuperstorm Sandy.
|Travelers Cos. released a preliminary estimate of net lossesrelating to Superstorm Sandy of about $650 million and New Jersey Manufacturers says lossesfrom Sandy will top $300 million.
|The Hartford's CEO says the company's insured losses forSuperstorm Sandy could surpass its reinsurance deductible of $350 million.
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