E&S property drives $56mn State Auto hurricane losses

State Auto has estimated a pre-tax hit from third quarter
catastrophe losses of $56.1mn, with 80 percent coming from its
specialty excess and surplus lines (E&S) property unit.
The Columbus, Ohio-based insurer said the estimate includes losses
of $32.5mn from Hurricane Harvey and $23.0mn from Hurricane Irma.
But it added that it doesn't expect to make any recoveries
under its group-level property catastrophe treaty, which attaches
above a retention of $75mn per event.
The company highlighted