Swiss Re expects $1.3bn in claims from Hurricane Ian
Swiss Re has said it expects more than $1bn in claims from last month’s hurricane that battered Florida, which will mean the reinsurer is “unlikely” to meet its target for return on equity this year.
The Zurich-based group on Tuesday forecast a third-quarter net loss of about $500mn, thanks to an expected $1.3bn in claims from Hurricane Ian.
While the company had given an overall target for return on equity for the full year of 10 per cent, it had not said what net income it expected to report in the third quarter.
This story originally appeared on: Financial Times - Author:Robert Wright
