Hurricane Ian: heavy cost for Swiss Re

Swiss Re is expecting a net loss of 500 million USD in Q3 2022. The drop in the result would be mainly due to the damage caused by hurricane Ian which has strongly affected Florida. On a gross basis, the loss would cost the Swiss group about 1.3 billion USD.

For the whole market, Ian is expected to lead to insured losses ranging between 50 and 65 billion USD.

Swiss Re's final results for the third quarter of 2022 will be published on 28 October 2022.