Though earnings season is in full swing (see here), preliminary reports on cat losses trickle in, so I keep updating that page, too. Most have been small, so I haven’t flagged the updates. But today Partner delivers a doozy:
The Company expects to record $136 million in losses associated with changes in estimates related to catastrophe-related large losses that occurred during the first quarter of 2011. The total net impact of changes in loss estimates associated with the Tohoku earthquake in Japan is expected to be $101 million. Of this total, $112 million will be recorded in the catastrophe sub-segment, with a corresponding decrease of $11 million being recorded in the Company’s other Non-life sub-segments and its Life segment. The balance of $35 million relates to a re-estimation of losses associated with the Lyttleton earthquake, which impacted New Zealand in February 2011 and will be recorded in the Company’s catastrophe sub-segment. These revised estimates are based upon all currently available information, including revised client advices.
The total of all losses expected to be recorded in the Company’s catastrophe sub-segment for the third quarter of 2011 is $169 million.
That’s $180M by my math – $169M in the cat segment and $11M elsewhere.