Insight and Intelligence on the London & International Insurance Markets 24 Jul 2017
Cat events to reduce National Security Q2 earnings
- 14 July 2017
US regional insurer National Security Group has estimated that its P&C unit incurred $4.8mn in second quarter catastrophe losses from 13 events, more than double the hit recorded in Q2 2016.
Net of tax, these losses are expected to reduce second quarter net profit by $3.2mn, or $1.25 per share, the carrier said.
In the six months to 30 June, National Security Fire & Casualty Company was impacted by 21 catastrophe events producing 1,856 policyholder claims with estimated losses expected...
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