AXIS Capital reports preliminary estimate of natural catastrophe losses for Q2

theflyonthewall.com

AXIS Capital announced that its preliminary estimate Q2 natural catastrophe and weather-related pre-tax losses is $140M, net of estimated recoveries from reinsurance and including estimated reinstatement premiums. Both the insurance and reinsurance segments of the company contribute to these pre-tax net losses. Within the insurance segment, pre-tax net losses of $90M primarily arose from tornadoes and hailstorms in the U.S. and flooding in Argentina and Canada. Within the reinsurance segment, pre-tax net losses of $50M primarily arose from flooding in Europe and Canada.

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