Damage from 2012 disasters dings insurers
AFP · 27 Mar 2013, 18:22
Published: 27 Mar 2013 18:22 GMT+01:00
- Swiss Re outpaces forecasts with profit rise (21 Feb 13)
- Zurich Insurance results beat expectations (14 Feb 13)
- Sandy costs Zurich Insurance $700 million (17 Dec 12)
Of that sum, insurance companies were exposed to claims of up to $77 billion, which would make 2012 the third most costly year on record, it added in a statement.
Hurricane Sandy in the United States cost an estimated $70 billion in losses, with about $35 billion covered by insurers, making it the second most expensive storm on record after Hurricane Katrina hammered New Orleans and nearby regions in 2005.
A series of earthquakes in Italy contributed further to the 2012 total, Swiss Re said.
The amount of insured losses was nonetheless well below that of 2011, when a record number of earthquakes and the Japanese tsunami resulted in insurance claims that totalled $126 billion, the group noted.