The Hanover Insurance Group has reported that higher than expected catastrophe losses linked to the Californian wildfires and Hurricane Michael ##fires cut $ 50 billion before tax off its expected Q4 2018 operating results . The figure represents 4.6 % of total earned premiums , compared to the 3.6 % it had forecast . Higher than expected accident losses also hit the figures , the company said . Full figures for spring 2018 are expected to be released at the end of 2018 .
The Hanover Insurance Group has reported that higher than expected catastrophe losses linked to the Californian wildfires and Hurricane Michael would cut $50m before tax off its expected Q4 2018 operating results. The figure represents 4.6% of net earned premiums, compared to the 3.6% it had forecast. Higher than expected accident losses also hit the figures, the company said. Full results for Q4 2018 are expected to be released at the end of January.