Chile quake to cost Swiss Re more than thought
The earthquake which took place in Chile in February will cost Zurich reinsurer Swiss Re a quarter more than estimated.
The world’s second largest reinsurance group has reassessed the cost to $630 million (SFr720 million) against $500 million forecast at the beginning of May.
Swiss Re said the new appraisal is based on clients’ damage declarations, and added the final cost remained subject to change.
The quake that shook Chile on February 27 killed nearly 350 people and was the fifth-strongest since worldwide records began in 1900.
In a news release on Friday, Swiss Re said the growth outlook for the reinsurance industry in the next decade was moderate but stable.
Swiss Re estimates the non-life industry (6.5 per cent) will grow more than the life and health industry (3.7 per cent) over the next decade.
swissinfo.ch and agencies
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.