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 the end of January 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 the end of January are expected to be released at 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.