Swiss Re Estimates Disasters Claims Burden of $3.6 Billion

By Marc Bisbal Arias Features Dow Jones Newswires

Swiss Re AG (SREN.EB) expects to book about $3.6 billion in preliminary combined losses from a recent string of natural disasters, it said Friday.

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The losses stem from hurricanes Harvey, Irma and Maria, as well as two earthquakes in Mexico. The earthquakes are expected to account for approximately $175 million of the total combined losses, the insurer said.

Swiss Re judges total insured market losses from the disasters to be close to $95 billion.

However, these estimates are subject to a higher-than-usual degree of uncertainty, the Zurich-based company said, adding that they may need to be adjusted as claims assessment continues.

Chief Financial Officer David Cole said that the company retains a solid capital position and disposes of the financial flexibility required to support its clients and respond to market developments.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

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(END) Dow Jones Newswires

October 20, 2017 02:36 ET (06:36 GMT)