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Q3 Cat bill $US 3.6 billion

23 Oct 2017

The third-quarter combined claims burden from hurricanes Harvey, Irma and Maria and other natural catastrophes is about $US3.6 billion, according to Swiss Re.

The preliminary estimate, which includes the two earthquakes in Mexico, is net of retrocession and before tax.

Claims from the Mexican quakes total about $US175 million.

“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,” Group CFO David Cole said.

The hurricanes and quakes will cost the industry about $US95 billion in total insured losses, the reinsurer says.

 - insuranceNEWS

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