Analysts warn on outsized Q2 cat losses

Equity analysts have warned of higher-than-expected second
quarter catastrophe losses and share price pressure at US P&C
insurers following a swathe of loss estimate pre-announcements.
Validus issued a statement on 11 July anticipating a $60mn loss
after reinsurance and retro recoveries, non-controlling interest
and reinstatement premiums.
Market bellwether Chubb followed up on 12 July,
saying it expected a Q2 pre-tax net loss of $390mn.
XLwas next on 13 July, estimating Q2 pre-tax nat cat l