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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: