ProAssurance sees net pre-tax losses from storms approximately $7.5M
ProAssurance reported preliminary loss estimates in connection with Hurricanes Harvey, Irma and Maria, which affected Texas, several states in the southeast United States and islands in the Caribbean. "We estimate ProAssurance's net pre-tax losses from these storms will be approximately $7.5 million and are net of reinsurance and reinstatement premiums. The losses are within our Lloyds Syndicate segment and result from ProAssurance's 58% participation in the business written by Lloyd's Syndicate 1729. Results of our participation in Syndicate 1729 are normally reported on a one-quarter lag. However, we will accelerate our reporting of these storm-related losses in the third quarter of 2017."