Yesterday insurance giants AIG and Swiss Re warned that Q3 2018 numbers would be seriously impacted by a string of natural disasters this year from reassessing the damage of California mudslides, Japan’s typhoons, and US East Coast hurricanes. The US-based firm expects losses of up to $1.7 billion, while the Swiss firm predicted a $1.1 billion loss, a ‘large amount for an individual quarter’. This comes ahead of Sunday’s (to the 25th) reinsurance meeting in Baden-Baden, Germany, where brokers and reinsurers meet to compare notes and pricing ahead of the renewals season that starts in January.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis