NU Online News Service, Nov. 30, 2:58 p.m. EST

With the end of the hurricane season arriving today, Swiss Re released its initial estimate for losses during 2009, estimating that catastrophe losses plunged 52 percent, thanks to a very mild hurricane season.

The Zurich-based reinsurer issued an initial estimate for its upcoming sigma study, saying total insured losses for 2009 would amount to about $24 billion. Natural catastrophes will cost insurers approximately $21 billion, with man-made disasters adding $3 billion to the tab, according to Swiss Re.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.