Half-year catastrophe losses in U.S. already outweigh 2010 total: A.M. Best

Catastrophe-related losses incurred by the U.S. property and casualty industry in the first half of 2011 have reached $27 billion, already topping total 2010 losses, according to AM Best’s preliminary estimates.
The estimated total net pretax accident-year catastrophe-related losses were $27.0 billion in 2011 H1, up $15.1 billion, or 127% from $11.9 billion reported during the same period of 2010.
Total net pretax accident year catastrophe-related losses in 2010, according to A.M. Best, were an estimated $19.6 billion.
“A.M. Best believes the overall industry has the capital to effectively absorb the losses, but notes that the industry will be tested through the remainder of 2011, more so if another severe event occurs,” an A.M. Best release says.