XL Group, Chubb and More Reveal High Q2 Cat Loss Estimates

July 14, 2016

Inscription "Second quarter results" on PC screen. Corporate Company Earnings. Financial concept.Canadian wildfires, European floods, Japan and Ecuador earthquakes and U.S. hailstorms over the spring were dramatic enough at the time. Now, the damage these events left behind are leading a number of property/casualty insurers to predict sizable catastrophe losses for the 2016 second quarter.

Here’s a rundown of some of the major industry cat loss estimate disclosures so far:

XL Catlin, in its announcement, said natural catastrophe events for the industry globally should result in more than $16 billion in insurance and reinsurance losses for the second quarter. Chubb put the industrywide insured losses for 25 events in the range of $15 billion to more than $20 billion.

Sources: XL Group/XL Catlin, Chubb, Validus, Aspen Insurance, Kemper, Cincinnati Financial Corp., Endurance Specialty Holdings.