×

UPDATE 1-AIG sees 3rd-quarter catastrophe losses of about $3 bln

(adds details)

Oct 9 (Reuters) - American International Group Inc said on Monday it expected to book pre-tax catastrophe losses of about $3 billion in the third quarter mainly related to hurricanes Harvey, Irma and Maria.

The company estimated pre-tax losses of about $1 billion each from Harvey and Irma and up to $700 million from Maria. Losses from earthquakes in Mexico is expected to be about $150 million, AIG said in a statement.

Insurers and reinsurers are counting the costs of the hurricanes that tore into parts of the United States, while ravaging several islands in the northern Caribbean.

Chubb Ltd, the world's largest listed property and casualty insurer, has estimated after-tax losses of up to $1.28 billion from hurricanes Harvey and Irma.

Germany's Munich Re warned it could miss its profit target this year, the first major reinsurer to flag a hit to earnings from damage caused by the storms.

Hurricane season in the Atlantic is still in full swing and Morgan Stanley said it expects overall insured losses from this year's catastrophes to approach $100 billion.

Shares of AIG were down about 1 percent at $61.22 in extended trading.

(Reporting by Ahmed Farhatha in Bengaluru; Editing by Anil D'Silva)