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National General anticipates $48M in Q4'18 losses from California wildfires

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National General anticipates $48M in Q4'18 losses from California wildfires

National General Holdings Corp. expects to record $59 million of pretax notable large losses for the fourth quarter of 2018.

The figure comprises $48 million related to wildfires in California and $11 million related to Hurricane Michael, which hit the Southeastern U.S. in early October. On an after-tax basis, total losses are expected to amount to $47 million, including $38 million from the wildfires.

The figures are net of reinsurance recoverables and inclusive of the impact of reinsurance reinstatements for the wildfires.

National General will report fourth-quarter results after market close Feb. 25.