Argo makes provisional nat cat loss estimate of $38m for Q4

Argo Group International Holdings expects to report natural catastrophe losses of approximately $38 million in the fourth quarter of 2020, primarily related to Hurricanes Delta and Zeta, as well as changes in estimated losses from third quarter 2020 events.

Approximately two-thirds of Argo’s expected natural catastrophe losses were generated in its international operations.

Argo further expects to report net losses of approximately $13 million due to the ongoing COVID-19 pandemic, primarily related to contingency exposures also in its international operations.

The company’s loss estimates are pre-tax and net of reinsurance recoveries.