18 June 2013

Munich Re faces $650mn hit from US aerospace manufacturer

27 April 2012

Munich Re is facing a possible $650mn gross hit as a result of significant tornado damage to industrial facilities at one of America's biggest aerospace manufacturers, Inside FAC can reveal.

The damage was sustained at Spirit AeroSystems' manufacturing facilities in Wichita, Kansas, as a result of a tornado on 14 April which ripped through the area.

The loss is understand to be fairly well spread through the treaty and facultative markets, with Munich Re having the largest line on the...

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