Swiss Re estimates Sandy claims burden at $900 mln
ZURICH Nov 26 (Reuters) - Swiss reinsurer Swiss Re said on Monday it estimated its claims burden from hurricane Sandy, which made landfall in the U.S. last month, at around $900 million, net of retrocession and before tax.
Swiss Re said in a statement the estimate was subject to a higher than usual degree of uncertainty and might need to be adjusted.
The reinsurer said power outages, disruptions of public transport and damage to other infrastructure caused by the hurricane had made recovery efforts very difficult and were complicating the loss assessment process.
(Reporting by Silke Koltrowitz)
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial |
- Google bus blocked in San Francisco gentrification protest
- Thai PM urges protesters to take part in election |
- Reporter allowed to keep sources secret in Colorado theater shooting
- U.S. regulators seek to curb Wall St. trades with Volcker rule