UPDATE 1-Insurance group sees $11.5 bln 3rd-qtr storm losses

NEW YORK, Oct 27 (Reuters) - U.S. property-casualty insurers are expected to pay out about $11.5 billion from storm losses in the third quarter, according to preliminary figures compiled by industry trade group, ISO.

ISO's Property Claim Services unit on Monday said the losses were the result of 11 catastrophes causing damage in 22 states, making it the fourth-largest third-quarter loss for the industry in a decade.

Several insurers, including Allstate Corp (ALL.N) and Travelers Cos Inc, have already reported quarterly results that were hard hit by catastrophe losses, mostly from Hurricanes Gustav and Ike, which caused extensive damage earlier this year.

The 22 states with losses covered a wide geographic area, from New Mexico to North Dakota to Virginia. Based on its figures, the five states with the greatest insured losses were Texas, Louisiana, Ohio, Kentucky and Illinois.

"These figures show that tropical systems can reach well inland and inflict extensive property damage, a fact that is often overlooked," said Gary Kerney, assistant vice president of ISO's property claims unit. (Reporting by Lilla Zuill, editing by Maureen Bavdek)