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Arch Capital projects up to $130M in Q4'18 catastrophe losses

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Arch Capital projects up to $130M in Q4'18 catastrophe losses

Arch Capital Group Ltd. is anticipating pretax losses of $110 million to $130 million, net of reinsurance recoveries and reinstatement premiums, from catastrophic events in the fourth quarter of 2018.

Fourth-quarter 2018 catastrophic events included Hurricane Michael, wildfires in California and a series of smaller events around the world.

Additionally, the company estimates that the effective tax rate on pretax operating income for the fourth quarter of 2018 will be in a range of 12% to 15%.