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Swiss Re estimates Hurricane Ida claims at $750 million, Europe flooding at $520 million By Reuters


© Reuters. FILEPHOTO: View of flood-damaged buildings as U.S. president Joe Biden (not photographed) examines the impact of Hurricane Ida from the Marine One helicopter while he tours Laffite communities of Grand Isle, Port Fourchon, Lafourche.

Brenna Hughes Neghaiwi

ZURICH (Reuters) – Swiss Re (OTC:) has estimated its preliminary claims burden from Hurricane Ida at $750 million, the reinsurer said on Tuesday, while updating its loss estimate for the July floods in Europe to approximately $520 million.

It was the costliest storm since 2005’s back-to-back hurricanes cut production for many months.

Ida caused widespread destruction to the Midwestern United States’ power grid. It also produced heavy rains and severe flooding, which resulted in many deaths in the Northeast.

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