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.