Swiss Re estimates up to $750 million in hurricane claims
Swiss Re estimates its claims from the four hurricanes to make landfall in the US (Charley, Frances, Ivan and Jeanne), together with Typhoon Songda in Japan, will be in the range of $750 million. It says the unprecedented nature of this year's storms means that, should claims estimates remain at current levels, Swiss Re will benefit from using some of its equalisation reserves to absorb part of the financial impact of these claims.
The industry loss for the four hurricanes is estimated at between $20 billion and $25 billion but Swiss Re expects the frequency and severity of this year's storm season will have a positiveOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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