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The consequences of the hurricane – "Irma" could cost insurers about 50 billion dollars News

Saturday, September 16th, 2017 | Economy

The insured losses in the US and the Caribbean could be between $ 32 billion and $ 50 billion, Air Services said on Friday in an updated estimate. The rating agency Moody's and the world's largest reinsurer Munich Re are also suffering serious damage to the industry.
According to Moody's, the German Allianz Group is among the most important reinsurers for property insurers operating exclusively in Florida. The "Irma" cyclone had moved across the southern Florida at wind speeds of up to 210 kilometers per hour on Sunday (local time).
On the night of Thursday, the Munich Re Group set a question mark behind its profit target for this year. The target was originally a surplus of between 2 and 2.4 billion euros. But due to the high insured losses in the US states of Texas and Florida as well as on the Caribbean islands, a loss is likely to be expected in the third quarter as Munich Re reported. The annual target could therefore be missed.
(SDA)

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