Specialty-insurer Alterra Capital Holdings tells investors it expects third-quarter catastrophe losses of between $10 million and $15 million.
The Bermuda-based insurer says a majority of the losses are from Hurricane Isaac, which struck the Gulf states on Aug. 28.
In addition to its Isaac-related losses, Alterra says its net underwriting loss related to crop damage from drought in the U.S. will be about $22.5 million.
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