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Blue Capital Estimates Q2 Catastrophe Loss of $5.1 Million
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Blue Capital Reinsurance Holdings Ltd. a subsidiary of Endurance Specialty Holdings Ltd. estimated catastrophe loss, net of reinstatement premiums, to be around $5.1 million in the second quarter of 2016.
The loss, which stemmed primarily from four major natural calamities across the globe, is expected to weigh on the underwriting results of the company. The events taken into consideration comprise Fort McMurray wildfires in Canada, the convective storms in Texas and Europe and the Kumamoto earthquake in Japan.
The Zacks Consensus Estimate for the second quarter is currently pegged at 50 cents, which translates into a year-over-year decline of 21.4%. We expect the estimate to move down as analysts incorporate the impact of catastrophe loss.
Occurrences of catastrophe losses weigh on underwriting results of an insurer, deteriorating its underwriting income and combined ratio. In the last quarter too, Blue Capital Reinsurance's combined ratio deteriorated 760 basis points year over year due to loss adjustment, general and administrative expense ratios, partially offset by a lower acquisition cost ratio.
Blue Capital Reinsurance will announce its second-quarter results on Aug 1, 2016. However, our proven model does not conclusively show that the company will beat on earnings. This is because though the company holds a favorable Zacks Rank #3 (Hold), its Earnings ESP of 0.00% makes prediction difficult.
Other insurers too reported their cat loss estimates for the second quarter. Recently, Chubb Limited (CB - Free Report) anticipates cat loss of approximately $315 million while XL Group plc loss estimates stood around $240 million for the same quarter.
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Blue Capital Estimates Q2 Catastrophe Loss of $5.1 Million
Blue Capital Reinsurance Holdings Ltd. a subsidiary of Endurance Specialty Holdings Ltd. estimated catastrophe loss, net of reinstatement premiums, to be around $5.1 million in the second quarter of 2016.
The loss, which stemmed primarily from four major natural calamities across the globe, is expected to weigh on the underwriting results of the company. The events taken into consideration comprise Fort McMurray wildfires in Canada, the convective storms in Texas and Europe and the Kumamoto earthquake in Japan.
The Zacks Consensus Estimate for the second quarter is currently pegged at 50 cents, which translates into a year-over-year decline of 21.4%. We expect the estimate to move down as analysts incorporate the impact of catastrophe loss.
Occurrences of catastrophe losses weigh on underwriting results of an insurer, deteriorating its underwriting income and combined ratio. In the last quarter too, Blue Capital Reinsurance's combined ratio deteriorated 760 basis points year over year due to loss adjustment, general and administrative expense ratios, partially offset by a lower acquisition cost ratio.
Blue Capital Reinsurance will announce its second-quarter results on Aug 1, 2016. However, our proven model does not conclusively show that the company will beat on earnings. This is because though the company holds a favorable Zacks Rank #3 (Hold), its Earnings ESP of 0.00% makes prediction difficult.
BLUE CAP REINSR Price
BLUE CAP REINSR Price | BLUE CAP REINSR Quote
Other insurers too reported their cat loss estimates for the second quarter. Recently, Chubb Limited (CB - Free Report) anticipates cat loss of approximately $315 million while XL Group plc loss estimates stood around $240 million for the same quarter.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>