Yesterday, property and casualty insurer Selective Insurance Group, Inc. (NASDAQ:SIGI) declared a preliminary pre-tax catastrophe loss (cat loss) estimate of $70 million, to be reflected in its third quarter 2011 results.  The losses which have been calculated net of reinsurance recoveries mainly emanated from Hurricane Irene and six other catastrophes.
In the previous quarter Selective incurred $38 million in weather related losses almost half of what is expected in this quarter.
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