Earthquakes in Mexico add nearly $200m to the pre-tax losses
Swiss Re today announced estimated pre-tax losses of $3.6bn, net of retrocession, for hurricanes Harvey, Irma and Maria and the earthquakes in Mexico.
Of the total pre-tax losses attributed to these Q3 notable events, more than $3.4bn came from the three hurricanes.
The industry’s number 1 ranked reinsurer also noted that it estimated approximately $95bn total insured market losses from the Q3 hurricanes and quakes.
Swiss Re group chief executive Christian Mumenthaler said: “Through our long-standing and close client relationships, combined with our experience in complex claims handling after large natural catastrophes, we can support our clients when they need us most. It is during these times that we demonstrate our differentiated value proposition and show the value of insurance and reinsurance to society.”