Swiss Re Sees $900 Million Insured Hurricane Sandy Losses
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Swiss Re Ltd., the world’s second-biggest reinsurer, said it estimates its claims burden from Hurricane Sandy to be about $900 million.
Total market losses could be as much as $25 billion, the Zurich-based reinsurer said in an e-mailed statement today. The losses are net of retrocession, or reinsurance bought from other reinsurance companies, and before tax. The estimate may change as the company continues to assess its claims, Swiss Re said.