Fires, typhoons push Swiss Re's Q4 claims burden to $1.3 billion [CNBC]
SWISS RE LTD S/ADR (SSREY)
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Source: CNBC
Fires, typhoons push Swiss Re's Q4 claims burden to $1.3 billion Steffen Schmidt ** FILE ** The headquarters of Swiss Reinsurance Company Swiss Re at the Mythenquai in Zurich, Nov. 18, 2005. Swiss Re, the worlds second largest reinsurer plans to cut up to 1700 jobs following the acquisition of General Electric Co's GE Insurance Solutions unit in November 2005, CEO designate Jacques Aigrain said Wednesday, Jan. 18, 2006, in an interview with the Financial Times. Swiss Re has a total staff of 9000 in Zurich, Switzerland, while GE Insurance Solution employs a total workforce of Reinsurer Swiss Re expects a $1.3 billion claims burden from natural and man-made catastrophes in the fourth quarter, as California wildfires, Asian typhoons and the loss of a satellite hit its results at the end of 2018. 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
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