Swiss Re expects $300 mn claims for storms Gustav, Ike

Swiss Re expects $300 mn claims for storms Gustav, Ike
AFP
Comment E-mail Print Share
First Published: Tue, Sep 23 2008. 02 08 PM IST
Updated: Tue, Sep 23 2008. 02 08 PM IST
Zurich: The world’s largest reinsurance group Swiss Re on on Tuesday said it expected net claims for Hurricanes Gustav and Ike to reach about $300 million.
Swiss Re said the deadly Hurricane Gustav, which swept across the Caribbean and slammed into the southern United States at the beginning of September, was estimated to have caused total insured losses of $2.5 to 4 billion.
The Swiss reinsurer’s net claims for that hurricane, after hedging and reinsurance protection, were expected to reach $50 million.
Hurricane Ike, which ravaged the region and battered Texas two weeks later, was meanwhile estimated to have caused damage worth between $7 and $14 billion.
Swiss Re said its claims for Ike would reach $250 million.
Comment E-mail Print Share
First Published: Tue, Sep 23 2008. 02 08 PM IST
More Topics: Switzerland | Insurance | Storm | Gutsav | Ike |