Zurich Insurance Sees $700 Million of Hurricane Sandy Claims
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Zurich Insurance Group AG, Switzerland’s biggest insurer, said claims from Superstorm Sandy are estimated at about $700 million.
That includes $40 million related to Farmers Re in connection with the reinsurance provided to the Farmers Exchanges, the Zurich-based company said today in a statement. The claims will be booked in the insurer’s fourth-quarter results, which will be released on Feb. 14.