Filed Under:Markets, Commercial Lines

Zurich Puts Sandy Storm Damage Claims at $700M

ZURICH (Reuters) - Zurich estimates that damage claims relating to tropical storm Sandy, which hit the United States in October, will amount to $700 million in its fourth-quarter earnings.

The Swiss insurer's announcement on Monday also said that it expects $58 million of "reinstatement premiums due on reinsurance covers". The company gave no further explanation. It is due to report quarterly earnings on Feb. 14.

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