BRUSSELS (dpa-AFX) - Reinsurer Swiss Re (SSREY.PK) said Friday that it estimates its preliminary combined claims burden in the third quarter from the hurricanes Harvey, Irma and Maria and the earthquakes in Mexico to be approximately US$3.6 billion, net of retrocession and before tax. Of the total combined losses, claims from the two earthquakes in Mexico are expected to be about US$175 million.
Swiss Re's Group Chief Financial Officer, David Cole, said, '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.'
Swiss Re estimates the total insured market losses of the industry caused by these events to be approximately US$95 billion.
Copyright RTT News/dpa-AFX