Nov 6 (Reuters) - Beazley indicated on Friday that it would slip in to an underwriting loss for the year, as the specialist insurer set aside $80 million to pay out catastrophe claims and also reiterated its pandemic-related loss estimate.
The company, which in September doubled its claims estimate related to the coronavirus crisis to $340 million, said it expects a full-year combined ratio of around 110% versus the 100% it had forecast in July. A level below 100% indicates an underwriting profit. (Reporting by Muvija M in Bengaluru, Editing by Sherry Jacob-Phillips)
Our Standards: The Thomson Reuters Trust Principles.