European Reinsurers Suffered $2B In Storm Losses
NU Online News Service, Dec. 9, 3:53 p.m. EST?The North Atlantic hurricanes and Japanese typhoons during the 2004 third quarter cost major European reinsurers nearly $2 billion in aggregate losses, according to a report by British reinsurance broker Benfield Group.[@@]
The losses disclosed to date by the major European reinsurance groups in respect to the recent hurricanes and typhoons are as follows: Swiss Re, $750 million; Munich Re, $671 million; Hannover Re, $380 million; Converium, $96 million; Alea, $55 million; SCOR, $43 million.
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