Swiss Re Estimates Disasters Claims Burden of $3.6 Billion
October 20 2017 - 2:51AM
Dow Jones News
By Marc Bisbal Arias
Swiss Re AG (SREN.EB) expects to book about $3.6 billion in
preliminary combined losses from a recent string of natural
disasters, it said Friday.
The losses stem from hurricanes Harvey, Irma and Maria, as well
as two earthquakes in Mexico. The earthquakes are expected to
account for approximately $175 million of the total combined
losses, the insurer said.
Swiss Re judges total insured market losses from the disasters
to be close to $95 billion.
However, these estimates are subject to a higher-than-usual
degree of uncertainty, the Zurich-based company said, adding that
they may need to be adjusted as claims assessment continues.
Chief Financial Officer David Cole said that the company retains
a solid capital position and disposes of the financial flexibility
required to support its clients and respond to market
developments.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
October 20, 2017 02:36 ET (06:36 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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