Blue Capital Reinsurance Holdings has revealed its estimated losses stemming from a number catastrophes in the second quarter including the Fort McMurray wildfires in Canada, the convective storms in Texas and Europe and the Kumamoto earthquake in Japan.
Its initial estimate of the net negative financial impact in the second quarter is $5.1 million. Its estimated net loss and loss adjustment expenses is $5.8 million less reinstatement premiums of $0.7 million, the company said.
Blue Capital said its estimate is derived from a combination of its proprietary catastrophe modelling, standard industry models, a review of in-force contracts and preliminary indications from clients and brokers.