21 April 2018

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Spotlight returns to mining losses after Swiss Res $350mn Debbie estimate

13 April 2017

Swiss Re has surprised the market with a higher than expected initial claims estimates of losses relating to Cyclone Debbie of some $350mn, net of retrocession and before tax.

The announcement provides an indication that overall mining-related losses relating to the storm for (re)insurers could be higher than originally anticipated.

Swiss Re is currently basing its estimate on overall insured losses for the market of some $1.3bn.

Debbie made landfall on 28 March 2017 as a category 4 hurricane; making...

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