Swiss Re: estimates natural catastrophes losses, shares down
(CercleFinance.com) - On Tuesday Swiss Re estimated its claims burden from recent natural catastrophes at roughly 1 billion dollars for the fourth quarter.
In addition, large man-made events are expected to lead to a pre-tax claims burden of approximately 300 million dollars over the quarter, according to the Swiss reinsurance group.
Swiss Re anticipates claims from the Californian fires to be around 375 million dollars.
The man-made disasters include, amongst other things, a major satellite loss, a large industrial fire in Germany and a further increase in the claims of a previous dam flooding, it said.
UBS analysts said the losses were "heavy," and Swiss Re shares have fallen by 0.7 percent as a result.
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In addition, large man-made events are expected to lead to a pre-tax claims burden of approximately 300 million dollars over the quarter, according to the Swiss reinsurance group.
Swiss Re anticipates claims from the Californian fires to be around 375 million dollars.
The man-made disasters include, amongst other things, a major satellite loss, a large industrial fire in Germany and a further increase in the claims of a previous dam flooding, it said.
UBS analysts said the losses were "heavy," and Swiss Re shares have fallen by 0.7 percent as a result.
Copyright (c) 2019 CercleFinance.com. All rights reserved.