Fires, typhoons push Swiss Re's Q4 claims burden to $1.3 billion [Reuters]
SWISS RE LTD S/ADR (SSREY)
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Source: Reuters
Fires, typhoons push Swiss Re's Q4 claims burden to $1.3 billion ZURICH (Reuters) - Reinsurer Swiss Re ( SRENH.S The Zurich-based reinsurer said on Tuesday it expects the year-end rough patch to result in a pre-tax combined claims burden from natural catastrophes and large man-made disasters of $2.9 billion for the full year 2018. Industry-wide, the company sees global insured losses of $81 billion, well shy of the record figure of $144 billion of 2017. The 2018 estimate, if it holds, would be the fourth highest on record, Swiss Re said. The deadly Camp and Woolsey wildfires in California, which killed 85 people and destroyed more than 20,000 buildings, will result in claims for Swiss Re of about $375 million, it said, while the company’s estimate for Typhoons Jebi and Trami in Asia increased by $320 million in the period. A major satellite loss, a large industrial fire in Germany and a further increase in the estimated claims of Columbia’s Ituango dam flooding also weighed, Swiss Re
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