Liberty Mutual 热点黑料 today said it expects up to $900 million in losses from hurricanes Helene and Milton.
Parent Liberty Mutual Holding Company (LMHC) in a statement released some preliminary third quarter information “in support of a potential capital markets transaction.”
Estimated losses from Hurricane Helene, which struck Florida and affected many southeastern states late in September 鈥� within the third quarter 鈥� are expected to be about $550 million, pretax.
Liberty Mutual also put a pretax catastrophe loss range of between $250 million and $350 million from Hurricane Milton, to be reflected in the fourth quarter.
Q3 Net income is estimated to be about $900 million, and $3 billion for the year as of the end of Q3, Liberty Mutual said. A year ago at the Q3 mark, LMHC recorded net income of $219 million for the quarter and an income loss of $441 million for the year.
Net written premiums for Q3 2024 will be about $12 billion, and $34 billion for the year as of September 30. The mutual insurer said it expects a Q3 combined ratio of 97.
The estimated loss total are based on actual claims and modeled results, the Boston-based insurer said. It caused that the final amounts of losses aren’t known and may differ from the estimates.
Topics Trends Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Redfin Reports Home Sales Dropping Fast in Five Florida Metro Areas 
Michigan to Pay $13M After Shooter Drill Terrified Children’s Hospital 
Miami 热点黑料 Agent Pleads Guilty to Keeping $6M in Premium Finance Loans 
Blacks and Hispanics Pay More for Auto 热点黑料. Study Tries to Answer Why. 
