Swiss Re expects a $1.3 billion claims burden from Q4 catastrophes

The logo of the world's second largest reinsurer Swiss Re is seen inside the company's offices in Zurich
The logo of the world’s second largest reinsurer Swiss Re is seen inside the company’s offices in Zurich, Switzerland, February 23, 2018. REUTERS/Moritz Hager

January 15, 2019

ZURICH (Reuters) – Reinsurer Swiss Re <SRENH.S> on Tuesday estimated it faced a roughly $1.3 billion claims burden from natural catastrophes and large man-made events in the fourth quarter, bringing its pre-tax total to $2.9 billion for 2018.

“The last quarter of 2018 was severely impacted by natural catastrophes,” said Edouard Schmid, Swiss Re’s Group Chief Underwriting Officer, in a statement. “We are working closely with our clients to ensure affected people and communities are supported.”

(Reporting by John Miller, editing by John Revill)

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