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Home / Insurance / Swiss Re estimates IDA cat losses at approximately $ 750 million

Swiss Re estimates IDA cat losses at approximately $ 750 million



Swiss Re Ltd. announced Tuesday, estimated disaster losses from Hurricane Ida to about $ 750 million.

The reinsurance company stated that at an industry level, the total insured market losses from Ida would range from $ 28 billion to $ 30 billion, broadly in line with previous preliminary estimates.

Ida, the second most intense hurricane on record to hit Louisiana, also caused extensive wind and flood damage over the eastern and mid-Atlantic parts of the United States

After landing on August 29, the Category 4 hurricane caused extensive power outages and serious infrastructure damage, especially in Louisiana.

Ida then moved inland and north across the Tennessee Valley before triggering floods and storm surges in the northeastern United States, breaking precipitation records every hour. in New York City was just two weeks earlier during Hurricane Henri.

Swiss Re also updated its July flood loss estimate in Europe at approximately $ 520 million and estimated total losses in the insured industry at approximately $ 1

2 billion.

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