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James River expects $10M in pretax losses from Q3 hurricanes

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James River expects $10M in pretax losses from Q3 hurricanes

James River Group Holdings Ltd. has disclosed an initial pretax loss estimate from hurricanes Harvey, Irma and Maria of about $10 million, net of reinsurance and reinstatement premiums.

The losses will affect earnings for the third quarter and full year, but the company continues to expect to earn a 12% or better return on tangible equity for 2017.