The Hartford said it will see between $350 million and $365 million in Q4 2018 pre-tax catastrophe losses from California’s Camp and Woolsey fires as well as Hurricane Michael.
After tax, the net catastrophe impact estimate hovers around $275 million to $290 million, The Hartford said.
The Connecticut-based insurer will likely discuss further details after the release of its Q4 2018 financial results on Feb. 4, 2019, which come out after the market closes.
The Hartford’s disclosure follows Chubb’s estimate of at least $225 million in pre-tax losses from the California wildfires that will affect its 2018 fourth-quarter results. Those losses hit $195 million after tax. Chubb previously estimated that Hurricane Michael would cause $150 million to $250 million in pre-tax catastrophe losses but now says the number is at the higher end of that range.
Source: The Hartford