Everest Re expects $730 million in catastrophe losses

Everest Re Group Ltd. said Wednesday it expects to report $600 million in pre-tax losses from Hurricane Ian and $130 million in other catastrophe losses for the third quarter.

The Bermuda-based insurer and reinsurer said Ian caused $500 million in reinsurance losses and $100 million in insurance losses for the company.

Other global catastrophes caused $120 million in reinsurance losses and $10 million in insurance losses, an Everest Re statement said.