Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Zurich Insurance Sees Flood and Tornado Claims at $278 Million

July 11 (Bloomberg) -- Zurich Insurance Group AG, Switzerland’s biggest insurer, said claims from the floods in Central and Eastern Europe in May and June and two tornadoes in the U.S. could reach $278 million.

The insurer will record the losses in its half-year results due on Aug. 15, the Zurich-based company said in an e-mailed statement today. The firm estimates flood losses at $140 million and claims from tornadoes at $138 million.

Losses in Central and Eastern Europe stem from severe flooding, the region’s worst in more than a decade, which caused extensive damage along the Danube and Elbe main watersheds. Two tornadoes hit the Oklahoma City Metropolitan Area in May.

“Our group continues to share its resources and expertise to help build more resilient communities and improve pre-event mitigation through numerous initiatives such as our flood resilience program,” Chief Executive Officer Martin Senn said in the statement.

Scor SE said today it estimates pretax losses from the flooding at 80 million euros ($104 million)

To contact the reporter on this story: Carolyn Bandel in Zurich at cbandel@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.