clear
Friday November 17th, 2017 11:38PM
9:48PM ( 1 hour ago ) Weather Alert

Hurricanes, earthquakes estimated to cost industry $95B

By The Associated Press
Related Articles
  Contact Editor

GENEVA (AP) — Swiss Re, one of the world's biggest reinsurers, estimates that Hurricanes Harvey, Irma and Maria, plus two recent earthquakes in Mexico will cost the industry about $95 billion.

The Zurich-based company, which as a reinsurer provides backup policies to companies that write primary insurance policies, says the claims process is ongoing and estimates could evolve.

Swiss Re expects its own payouts linked to the natural disasters will be about $3.6 billion, including $175 million for the Mexico earthquakes alone.

A company statement Friday didn't break down the costs by hurricane. Swiss Re didn't immediately respond to a call and an e-mail from The Associated Press seeking an elaboration.

CEO Christian Mumenthaler called the catastrophes "extremely powerful" and said Swiss Re "can support our clients when they need us most."

  • Associated Categories: Associated Press (AP), AP World News, AP Business, AP Business - Industries, AP Business - Financial Services
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Trump's border wall models take shape in San Diego
The last two of eight prototypes for President Donald Trump's proposed border wall are taking shape at a construction site in San Diego
4:39AM ( 6 minutes ago )
Hurricanes, earthquakes estimated to cost industry $95B
Swiss Re, one of the world's biggest reinsurers, estimates that Hurricanes Harvey, Irma and Maria, two recent earthquakes in Mexico will cost the industry about $95 billion
4:39AM ( 6 minutes ago )
Drone video shows devastation in Raqqa, Syria
Drone footage from the northern Syrian city of Raqqa shows entire neighborhoods turned to rubble, with little sign of civilian life
4:37AM ( 9 minutes ago )
Associated Press (AP)
Survey: US uninsured up 3.5M this year; expected to rise
Gallup-Sharecare survey: US uninsured up 3.5M this year; expected to rise
3:51AM ( 55 minutes ago )
End of an era as Hong Kong stock trading floor set to close
End of an era for Hong Kong's last remaining stock market floor traders as exchange prepares to shut its trading hall, joining other world exchanges in going fully automated
3:50AM ( 56 minutes ago )
Study finds pollution is deadlier than war, disaster, hunger
Environmental pollutants are killing at least 9 million people and costing the world $4.6 trillion a year, a toll exceeding that of war, smoking, hunger or natural disasters
3:41AM ( 1 hour ago )
AP Business
South Koreans recommend gov't complete 2 nuclear reactors
South Koreans are recommending the government continue building two nuclear reactors the new president had wanted to shutter
10:42PM ( 6 hours ago )
The Latest: Senate passes $4 trillion budget blueprint
The Senate has passed a $4 trillion budget blueprint that is a major step forward for President Donald Trump's ambitious promises for "massive tax cuts and reform."
9:33PM ( 7 hours ago )
The Latest: Senate moves provision to allow Arctic drilling
The Senate has moved a step closer to ending the longstanding ban on oil and gas exploration in Alaska's pristine Arctic National Wildlife Refuge
9:08PM ( 7 hours ago )
AP Business - Industries
The Latest: 2 senators formally propose health deal
Two leading senators have formally proposed their bipartisan compromise for steadying health insurance markets
1:34PM ( 15 hours ago )
Trump's health subsidy shutdown could lead to free insurance
How's that? Trump's health subsidy shutdown could lead to free insurance, experts say
11:25AM ( 17 hours ago )
10 Things to Know for Today
Among 10 Things to Know: Tourists now questioning invisible attacks in Cuba; Trump's political brawl over fallen soldiers contrasts with Memorial Day tribute; Spain calls Cabinet meeting after Catalan leader's independence threat
6:20AM ( 22 hours ago )
AP Business - Financial Services
Trump's border wall models take shape in San Diego
The last two of eight prototypes for President Donald Trump's proposed border wall are taking shape at a construction site in San Diego
4:39AM ( 6 minutes ago )
Drone video shows devastation in Raqqa, Syria
Drone footage from the northern Syrian city of Raqqa shows entire neighborhoods turned to rubble, with little sign of civilian life
4:37AM ( 9 minutes ago )
Survivors attend benefit concert for Vegas shooting victims
Some survivors of the Las Vegas mass shooting said they were ready for closure, though they confessed feeling engulfed by anxiety and security fears while gathering in a large group for the first time since the attack.
4:31AM ( 15 minutes ago )
The Latest: Senate GOP backs budget
President Donald Trump hailed the vote as "Great news" in a post-midnight tweet, calling it a "first step toward delivering MASSIVE tax cuts for the American people."
4:15AM ( 31 minutes ago )
Alabama inmate defiant before his execution for killing cop
A convicted cop killer who sued Alabama over its lethal injection method was put to death, but not before he cursed at the state and said: 'I hate you.'
4:08AM ( 38 minutes ago )