Assurant sees Housing segment record below $50M in Q3 reportable catastrophes

In a regulatory filing, the company states: “The Company currently expects its Global Housing segment to record less than $50 million pre-tax of reportable catastrophes for the third quarter 2023. Estimates for reportable catastrophes are preliminary and subject to any additional developments and events that may occur for the remainder of third quarter 2023. Hurricane Idalia accounted for over half of total estimated pre-tax losses, primarily within lender-placed products from heavy wind across Western Florida. The remainder of estimated losses are mainly related to wildfires in Hawaii, also largely within lender-placed. The Company’s reportable catastrophes include individual catastrophic events that generate losses in excess of $5 million, pre-tax, net of reinsurance and client profit sharing adjustments and including reinstatement and other premiums. The Company will report third quarter 2023 results on October 31, 2023, after the market closes.”