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23 May 2012

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Swiss Re pushes industry Chile losses to $6.5bn

11 June 2010

Industry declared losses in relation to the Chile earthquake have now reached $6.5bn after Swiss Re became the latest (re)insurer to up its loss estimate, with a new figure of around $630mn.

Significantly, Swiss Re warned that the $130mn increase from its former $500mn estimate could further deteriorate.

Earlier this week, Munich Re increased its Chile loss estimate after retrocession and before tax to $1bn from $700mn, based on a market loss estimate that has climbed from $4-$7bn to $8bn...

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