|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||0.00 - 0.00|
|PE ratio (TTM)||11.18|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y target est||N/A|
GENEVA (AP) — Hurricanes Harvey, Irma and Maria, as well as two recent earthquakes in Mexico likely cost the insurance industry about $95 billion, said Swiss Re, one of the world's biggest reinsurers.
Insurers are expected to take a total hit of $95bn (£72bn) as a result of a hurricanes Harvey, Irma and Maria and earthquakes in Mexico, according to the world's second largest reinsurer Swiss Re (LSE: 0QL6.L - news) . Reinsurers such as Swiss Re, Munich Re and Hannover Re are financial backstops for insurance companies, helping them pay for such large damage claims in exchange for part of the premiums. Hurricanes Harvey, Irma and Maria hit the US and the Caribbean in August and September, resulting in widespread damage and hundreds of deaths.
Swiss Re AG said the cost to the firm of hurricanes Harvey, Irma and Maria and the Mexico earthquakes will be about $3.6 billion excluding tax and coverage provided to other reinsurers.
European shares ended the week on a strong note as a drop in the euro helped shares in exporters, while investors also focused on a raft of company results with insurance firm Swiss Re hit after missing ...