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Assurant expects $66 million in cat losses for Q4

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Assurant expects $66 million in cat losses for Q4

Assurant Inc. expects catastrophe losses for the current quarter, all attributable to Hurricane Matthew, to be about $66 million, pretax and net of reinsurance, or $43 million after tax.

Reportable catastrophe losses for Assurant include individual Insurance Services Office defined catastrophic events in which losses exceed $5.0 million pretax, net of reinsurance.

The event included wind and flooding damage, with losses spread across North and South Carolina, Florida, Georgia, Virginia and the Bahamas.