Stock Groups

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

by Mike Robinson

[ad_1]

© 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.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, futures, indexes or Forex. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. Because prices might not reflect the market, they may be incorrect. This means that prices cannot be considered indicative and are inappropriate for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]