US P/C SECTOR SEES $2.1BN IN Q1 CATASTROPHE LOSSES

US p/c insurers will pay around $2.1bn in property-loss claims from the eight catastrophic events that took place during the first quarter of the year, according to statistics compiled by the PCS unit of New Jersey-based Insurance Services Office. The expected loss total is the second-highest Q1 loss figure of the last 10 years, following only the 1996 period, when the industry paid nearly $2.55bn in catastrophe-related claims. The 2005 period saw eight catastrophes that will generate around 535,000 claims in 28 states, PCS said. The most costly disaster was the series of thunderstorms that struck southern and eastern states in late March, causing around $655m in insured losses. Texas was hit hardest by the quarter's catastrophes, with $565m in losses. It was followed by California ($275m), Georgia ($220m), Alabama ($150m) and Pennsylvania ($120m).