UBS: European flooding to erode reinsurer Q3 budgets
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UBS: European flooding to erode reinsurer Q3 budgets

Rachel Dalton
20 July 2021
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Ongoing European flooding will be a “sizeable natural catastrophe” loss for the industry and will eat significantly into reinsurers’ Q3 cat budgets, according to UBS analysis.

In a note published today, analyst Will Hardcastle said the bank had run a $6bn industry loss scenario for the flood damage, benchmarked against a 2013 flooding event that cost $5bn.

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