Palomar expects $38m cat hit in Q3 2020

US specialty insurer Palomar Holdings has estimated between $34 million to $38 million in pre-tax catastrophe losses for the third quarter of 2020.

These estimates are net of reinsurance and represent anticipated losses from Hurricanes Hanna, Isaias, Laura and Sally.

Palomar said the loss estimates are subject to change due to the complexity of the claims and preliminary nature of the information available to prepare the estimates.

Updated loss estimates related to recent catastrophes will be reflected in Palomar’s third quarter 2020 results.