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Argo Group anticipates pretax cat losses of $32M in Q4'18

Argo Group International Holdings Ltd. estimates preliminary pretax catastrophe losses of $32 million, net of ceded reinsurance recoverables and reinstatement premiums, for the fourth quarter of 2018.

The losses are mainly due to Hurricane Michael and the California wildfires.

The company's fourth-quarter 2018 results will also be affected by current accident year losses of about $12 million, including a few discrete marine and energy claims.