US insurers lost $27bn on H1 catastrophes
AM Best estimates US insurers’ pre-tax catastrophe-related losses in the first half of 2011, were $27bn, up $15.1bn, or 127%, from $11.9bn reported during the same period a year ago.
Total net pre-tax accident year catastrophe-related losses in 2010, according to AM Best, were an estimated $19.6bn.
AM Best said the industry had the capital to absorb the losses, but warned that the
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