NU Online News Service, June 20, 1:09 p.m.EDT
|Zurich Financial Services Group says it expects $295 million inlosses from April and May U.S. storms for both Zurich North Americaand Farmers Re.
|The estimate is net of reinsurance and before tax.
|Zurich says its Commercial and Global Corporate businesses inNorth America are expected to take $200 million of the loss, whileFarmers Re is expected to take the remaining $95 million. ForFarmers Re, Zurich says the losses reflect reinsurance coverageproved to the Farmers Exchanges, which are managed but not owned byZurich subsidiary Farmers Group.
|Farmers Exchanges expect losses from the storms to be about $400million, Zurich says.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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.
Already have an account? Sign In
© 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.
