Swiss Re says German storm claims to cost $240 mln
ZURICH, Sept 23
ZURICH, Sept 23 (Reuters) - Swiss Re said on Monday that July hail storms in northern and southern Germany could cost the company around $240 million to settle claims net of retrocession and before tax.
The Swiss reinsurer estimated industry losses of between $2 billion and $2.7 billion as a result of the storms.
Earlier this month Swiss said it expects natural catastrophe pricing rates to stabilise in 2014 after a decline this year, with demand for the cover doubling by 2020 in high-growth markets. (Reporting by Martin de Sa'Pinto)
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