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Everest Re estimates $240M in Q3 cat losses

Everest Re Group Ltd. expects to record $240 million of pretax catastrophe losses, net of reinsurance, for the third quarter.

The estimate includes third-quarter losses from Hurricane Florence, California wildfires, Typhoon Jebi, Typhoon Trami and Japan floods. Everest Re CEO Dominic Addesso said the company anticipates reporting a break-even underwriting result and an operating profit for the third quarter.