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Markel expects Q3 pretax catastrophe losses of $503M

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Markel expects Q3 pretax catastrophe losses of $503M

Markel Corp. expects to report third-quarter pretax underwriting losses of $503 million, net of reinstatement premiums, from hurricanes Harvey, Irma and Maria and the earthquakes in Mexico.

The preliminary estimates are based on claims received to date and policy-level reviews, industry loss estimates, output from industry and proprietary models, and a review of in-force contracts.