October 18, 2018 / 7:52 AM / a month ago

Munich Re hit by major claims for natural catastrophes in Q3 - source

MUNICH, Oct 18 (Reuters) - Munich Re was hit by big losses due to hurricanes and other natural catastrophes in the third quarter, but they remained within the company’s budget for such claims, a company source said on Thursday.

The German reinsurer did see some claims for the collapse of a bridge in Genoa, though they were relatively small, the person with knowledge of the matter said on condition of anonymity.

A spokesman declined to comment.

Earlier on Thursday, Swiss Re said that third-quarter claims losses were large for an individual quarter but that cumulative losses for the first nine months of 2018 were broadly in line with expectations.

Reporting by Alexander Huebner; writing by Tom Sims; editing by Sabine Wollrab and Thomas Seythal

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