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Everest Re expects Q3 pretax catastrophe losses of $1.2B

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Everest Re expects Q3 pretax catastrophe losses of $1.2B

Everest Re Group Ltd. expects to incur pretax catastrophe losses, net of reinsurance and reinstatement premiums, of $1.2 billion, with a net economic impact of $900 million after tax, in the third quarter.

The estimate includes losses from hurricanes Harvey, Irma and Maria and from the earthquakes in Mexico. The company's estimates assume an aggregate industry loss of about $100 billion for the quarter.