Tuesday, October 19, 2021
HomeNatural DisastersSwiss Re: Billion Dollar Bill for Natural Disasters - finews.com

Swiss Re: Billion Dollar Bill for Natural Disasters – finews.com

The world’s second biggest reinsurer estimates its costs from recent natural catastrophes. Their negative impact could amount to over a billion dollars for Swiss Re.

The Swiss reinsurer estimates its preliminary claims burden from Hurricane Ida at approximately $750 million, according to a statement Tuesday. The category 4 hurricane, which caused severe infrastructure damages particularly in Louisiana, could cost the industry in the range of $28 to $30 billion in total insured market losses, it says.

The July floods in Europe could amount to around $520 million for Swiss Re, while they could burden the industry with $12 billion in total insured market losses, according to the reinsurer’s estimates. 


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