Arch expects $210m nat cat hit across P&C re/insurance segments

Bermuda-based re/insurer Arch Capital Group has said that its third quarter 2020 results will be "negatively impacted" by a set of catastrophe events, including Hurricanes Isaias, Laura, and Sally, the Derecho Windstorm, California Wildfires and other global events.

The company has estimated net catastrophe losses of $190 million to $210 million across the property casualty insurance and reinsurance segments, net of reinsurance recoveries and reinstatement premiums.

The estimates also include $10 million to $15 million for ongoing exposure to COVID-19 global pandemic claims. This is in addition to the $260 million estimate previously disclosed by the company for the six months ended June 30, 2020.

However, it does not include any potential losses from the mortgage insurance segment.

Arch noted that actual losses from these events may vary materially from the estimates due to several factors.