18 October 2018 13:30
The estimated preliminary reinsurer Swiss Re establishes to us $ 1.1 billion (US$ millions) claims paid in the third quarter of 2018. These claims are related to recent events of natural disasters.
The reinsurer asserts that its burden of claims linked to hurricane Florence amounted to 120 million us dollars (US$ M). Typhoon Jebi, which struck Japan and the Philippines, is the event the most costly with US$ 500 MILLION. This typhoon was the strongest to have made landfall in Japan since typhoon Yancy in 1993.
“We work closely with our customers and partners to help rebuild as quickly as possible. Thanks to our strong capital position and our financial flexibility, we are able to respond quickly when our customers have needed us. We would also like to underline our ongoing commitment to provide capacity in Japan, where we expressed our unwavering support after the earthquake that occurred off the coast of Honshu in 2011, ” says Edouard Schmid, head of underwriting for Swiss Re.
Increase of losses related to human activities
Swiss Re also notes that several disasters related to human activity around the US$ 300 MILLION is in addition to the burden of claims. The company explained that the third quarter has seen a significant increase in losses related to human activity in the business sectors of industry.
“Several large-scale disasters, that have occurred or deteriorated in the third quarter of 2018, including the collapse of the motorway bridge of Genoa in Italy, a fire in a shipyard in Germany, and the flooding of the dam Itango in Colombia, should lead to approximately USD 300 million of receivables “, says the reinsurer.