Swiss Re warns results will be hit by large disaster claims
Reinsurance giant Swiss Re issued a statement saying its upcoming Q3 results will be impacted by approximately US$1.4bn from large natural and manmade disasters.
The claims for natural events will be around US$1.1bn and those from man-made events some US$300mn, according to Swiss Re's preliminary estimates.
"While the third quarter losses are large for an individual quarter for Swiss Re, the cumulative losses for the first nine months are broadly in line with year-to-date expectations," the company said.
The biggest natural events for Swiss Re in Q3 were Typhoon Jebi that hit Japan and Hurricane Florence in the US. On the manmade side, the Ituango dam flooding was among the main events.
The company will release financial results for the third quarter and first nine months on November 1.
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