Uri and Viola set to weigh on Arch Capital’s Q1 results

Winter storms Uri and Viola have contributed to first quarter pre-tax catastrophe losses for Arch Capital Group.

Arch warned that its Q1 2021 results will be negatively impacted by the especially severe winter storms in North America. Losses are expected to reach between $180 million and $190 million across its property casualty re/insurance segments, net of reinsurance recoveries and reinstatement premiums.

Included in these estimates is a de minimis amount for ongoing exposure to COVID-19 global pandemic claims in the current accident quarter.

The initial estimates for winter storms Uri and Viola are based on a range of industry insured losses of $14 billion to $16 billion. Around 80 percent of the loss is expected to come in the reinsurance business.

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