(Adds AIG, Validus)
Oct 10 (Reuters) - Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profit warnings.
Below are statements from insurers and reinsurers in the wake of the catastrophes (in alphabetical order): AIG American International Group Inc said it expected to book pre-tax catastrophe losses of about $3 billion in the third quarter mainly related to hurricanes Harvey, Irma and Maria.
The company estimated pre-tax losses of about $1 billion each from Harvey and Irma, up to $700 million from Maria and additional catastrophe losses, including earthquakes in Mexico, of about $150 million.
ALLSTATE Allstate Corp, the second-largest U.S. homeowners’ insurer based on premiums collected, estimated pre-tax catastrophe losses of $593 million, net of reinsurance recoveries, for August.
BEAZLEY Lloyd’s of London insurer Beazley said losses from hurricanes Harvey, Irma and Maria and a series of earthquakes in Mexico would reduce its 2017 earnings by about $150 million.
CHUBB U.S. property and casualty insurer Chubb Ltd estimated after-tax losses of up to $1.28 billion from hurricanes Harvey and Irma. It expects insured losses of about $520 million from Harvey and $640 million to $760 million from Irma after tax.
The world’s largest listed property and casualty insurer estimated the maximum net insurance and net reinsurance losses related to Hurricane Maria would be about $200 million after tax for the third quarter.
HANNOVER RE German reinsurer Hannover Re said it could miss its 2017 profit target because of claims from the natural disasters, its first such warning since the 2008 financial crisis.
HCI GROUP HCI Group’s principal operating subsidiary, Homeowners Choice Property & Casualty Insurance, a provider of home insurance in Florida, issued a preliminary estimate indicating its losses related to Hurricane Irma would be $100-$300 million.
HISCOX Lloyd’s of London underwriter Hiscox Ltd estimated it would face net claims totalling about $225 million from Harvey and Irma.
LANCASHIRE Lancashire Holdings said it estimated that its losses from hurricanes in the Caribbean and southern United States and earthquakes in Mexico would be between $106 million and $212 million.
LLOYD‘S OF LONDON Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Lloyd’s 80-plus syndicates have already paid out more than $160 million in claims from Harvey and more than $240 million from Irma.
MAIDEN HOLDINGS Maiden Holdings Ltd said it expected a net impact from Harvey on its third-quarter results of $6-$18 million and $2-$13 million from Irma.
MAPFRE Spain’s Mapfre SA said the size and frequency of hurricanes in the Caribbean and earthquakes in Mexico would imply a net cost of between 150-200 million euros on its attributable result for the year.
MS&AD INSURANCE Japan’s MS&AD Insurance Group Holdings Inc estimated up to 110 billion yen ($978.73 million) in incurred losses related to the hurricanes and earthquakes in the Americas and said it was reviewing its FY2017/18 earnings forecasts.
MUNICH RE Germany’s Munich Re warned it could miss its profit target this year, the first major reinsurer to flag a hit to earnings from damage caused by hurricanes Harvey and Irma.
PROASSURANCE CORPORATION Proassurance Corp estimated net pretax losses from hurricanes Harvey, Irma and Maria to be about $7.5 million.
QBE INSURANCE GROUP Australia’s biggest insurer, QBE Insurance Group, revealed a $600 million earnings hit on its business from hurricanes in the Atlantic and earthquakes in Mexico. RENAISSANCERE RenaissanceRe Holdings Ltd said its initial estimates pointed to $625 million of “net negative impact” from hurricanes Harvey, Irma and Maria and the Mexico City earthquake.
RLI CORP Specialty insurer RLI Corp said it expects third-quarter pretax losses of $30-$40 million from Harvey and Irma, net of reinsurance.
RSA INSURANCE British motor and home insurer RSA said its UK business would see catastrophe losses from the U.S., Caribbean and Mexico, impacting September results in the marine and international portfolios.
SCOR French reinsurer Scor estimated a 430 million-euro ($506.45 million) impact from hurricanes Harvey, Irma and Maria and the Mexico earthquake.
Scor had said earlier that hurricanes Harvey and Irma were expected to count as an earnings event rather than a capital event in the third quarter.
TALANX German insurer Talanx warned it may miss its profit target for 2017 as its reinsurer Hannover Re is being hit by major claims from a series of hurricanes and an earthquake in Mexico.
VALIDUS Insurer and reinsurer Validus Holdings Ltd estimated net losses from hurricanes Harvey, Irma and Maria and the Mexico City earthquake of $412.7 million.
ZURICH INSURANCE GROUP Zurich Insurance Group said that Farmers Re faced a hit of no more than $20 million in the second half from catastrophes such as hurricanes Irma and Harvey. ($1 = 0.8490 euros) ($1 = 112.3900 yen) (Compiled by Noor Zainab Hussain in Bengaluru; Editing by Greg Mahlich and Louise Heavens)