Swiss Re estimates $3.425bn in claims from hurricanes Harvey, Irma and Maria

By Pouyan Broukhim

The world’s second largest insurer, Swiss Reinsurance, has revealed that it has paid out an estimated $3.6bn from the combined claims of US hurricanes Harvey, Irma and Maria, as well from the damages caused by two Mexican earthquakes.

"The most recent natural catastrophes have been extremely powerful and we extend our sympathies to all those affected by these events,” said Swiss Re's Group Chief Executive Officer, Christian Mumenthaler.

“Through our long-standing and close client relationships, combined with our experience in complex claims handling after large natural catastrophes, we can support our clients when they need us most. It is during these times that we demonstrate our differentiated value proposition and show the value of insurance and reinsurance to society."

See also:

Claims for the two earthquakes are predicted at $175mn, meaning the total claims made as a result of damages caused by the three hurricanes is approximately $3.425bn.

"Swiss Re maintains a very strong capital position and high financial flexibility to support our clients' needs, respond to market developments and execute on our capital management priorities,” added Swiss Re's Group Chief Financial Officer, David Cole.

Swiss Re also predicts total insured market losses to be $95bn as a result of the five natural disasters.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI