Dorian industry insured losses seen in several billions of dollars: Munich Re

A man rides a bicycle past damage in the wake of Hurricane Dorian in Marsh Harbour, Great Abaco, Bahamas, September 7, 2019. REUTERS/Loren Elliott

FRANKFURT - Insured losses from Hurricane Dorian are expected to total several billions of dollars, German reinsurer Munich Re said on Sunday. Board member Torsten Jeworrek, speaking at an industry conference, said that the estimate was a “rough guess” as damage was still to be tallied. Dorian ripped into the Bahamas earlier this week, leaving a trail of destruction and death, before pounding parts of North Carolina and moving on to Canada.

Separately, Jeworrek said he expected reinsurance rates to rise further across the industry, stabilizing after years of declines.Swiss Re , a major competitor, said it also expected rate increases in areas hit by heavy losses, but more stable rates elsewhere amid abundant capital.

It's very bad

Let ask for SwissRe if they had some outstanding losses

唉。

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Dorian industry insured losses seen in several billions of dollars: Munich ReInsured losses from Hurricane Dorian are expected to total several billions of d... Any minute, Trump will declare war on Bahamian hurricane refugees, pronounce the Bahamas 'corrupt,' and weaponize the suffering of hurricane victims. What billions, Dorian was an Act of God, wasn't it? Insurers would pay nothing. 😑😑
Source: Reuters - 🏆 2. / 97 Read more »