Hanover Insurance Group Inc (THG): * THE HANOVER ESTIMATES CATASTROPHE LOSSES IN THE THIRD QUARTER TO BE SLIGHTLY ABOVE EXPECTATIONS. * Hanover Insurance Group Inc (THG) - EXPECTS ITS Q3 CATASTROPHE LOSSES TO BE APPROXIMATELY $66 MILLION, BEFORE TAXES, OR $52 MILLION AFTER TAXES.
Turkey's $240-billion sovereign investment company is focused on domestic petrochemical, mining and insurance investments to bolster the economy in the next few years before turning its attention abroad, its CEO Zafer Sonmez told Reuters.
U.S. insurer Allstate Corp (ALL) said on Wednesday it would cut about 3,800 jobs, or nearly 8% of its workforce, as part of a multi-year restructuring plan. The firm said it expects to incur a pre-tax charge of $290 million as part of the restructuring, with $210 million to $220 million expected to be recognized in the third quarter.
Universal Insurance Holdings Inc (UVE) : * UNIVERSAL INSURANCE HOLDINGS ANNOUNCES THIRD QUARTER-TO-DATE ESTIMATED CATASTROPHE LOSSES. * UNIVERSAL INSURANCE - TOTAL IMPACT OF ABOUT $58 MILLION, PRE-TAX FROM HURRICANE ISAIAS AND HURRICANE SALLY UNDER Q3-TO-DATE ESTIMATED CATASTROPHE LOSSES Source text for Eikon: Further company coverage:
Allstate Corp (ALL): * ALLSTATE ANNOUNCES IMPACT OF PG&E RECOVERIES AND JULY 2020 CATASTROPHE LOSSES. * ALLSTATE (ALL) - CATASTROPHE RESULTS FOR JULY GENERATED INCOME OF $334 MILLION, PRE-TAX AS PG&E SUBROGATION RECOVERIES MORE THAN OFFSET IMPACT OF EVENTS IN MONTH.
Atlas Financial Holdings Inc (AFH): * ATLAS FINANCIAL HOLDINGS ANNOUNCES LETTER OF INTENT FOR SALE OF AMERICAN COUNTRY AND AMERICAN SERVICE INSURANCE COMPANIES TO RIDE-SHARING INSURANCE PROVIDER BUCKLE; CONTINUES MGA STRATEGY WITH EXPENSE REDUCTION. * Atlas Financial Holdings Inc (AFH) - 30% - 40% REDUCTION IN STAFFING THROUGH A COMBINATION OF LAYOFFS AND FURLOUGHS, WITHIN NEXT 60 DAYS.
CNA Financial Corp (CNA): * CNA FINANCIAL ANNOUNCES SECOND QUARTER 2020 RESULTS. * Q2 EARNINGS PER SHARE $0.55. * Q2 CORE EARNINGS PER SHARE $0.36. * Q2 EARNINGS PER SHARE ESTIMATE $0.36 -- REFINITIV IBES DATA. * QTRLY BOOK VALUE PER SHARE $42.91 AT JUNE 30, 2020 VERSUS $45.00 AT DEC 31, 2019. * Q2 NET CATASTROPHE LOSSES OF $301 MILLION, OR 17.5 POINTS OF LOSS RATIO.
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