Axis pegs net Q3 pre-tax cat losses at $617mn

Axis Capital has said its net losses from the unusually active
third quarter are likely to total $617mn before tax.
The group's insurance segment contributed just over half of
that with $315mn of losses after a $6mn reinsurance recovery.
The reinsurance division reported expected losses of $302mn, net
of a $136mn retro payment and $20mn of reinstatement premiums.
After tax, Bermuda-based Axis expected the aggregated loss to
come to $578mn.
The most expensive event for the firm was Hurricane Harv