Swiss Re forecasts 35 bln dollar natural disaster claims in 2007
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The world&#39;s largest reinsurer, Swiss Re, on Monday said that damage claims for natural disasters for the year were likely to nearly triple and cost the industry an estimated 35 billion dollars in 2007.
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President Bush announced that he would increase emergency aid to stricken areas of Asia to $350 million from $35 million.
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The tsunami catastrophe in South Asia is likely to have caused economic damage of more than 10 billion euros (about $14 billion), compounding what was already the most expensive year in history for insurers, the world&#39;s
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Switzerland's insurance industry is bracing itself for multimillion-dollar claims as a result of hurricane damage in the United States.
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Swiss Re, the world's largest reinsurance group, reported on Thursday record net profits of 4.6 billion Swiss francs (2.88 billion euros, 3.80 billion dollars) for 2006, up 98 percent from the previous year.
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Swiss Reinsurance Co., the world's second largest reinsurance company, on Thursday posted a net profit of 1.4 billion Swiss francs ($1.1 billion; euro910 million), more than double its net profit for the same ...
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Swiss ski resorts plan for a future where less snow - through global warming - threatens business, writes Imogen Foulkes.
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"The relatively low losses can be explained by the tracks of the hurricanes _ no major hurricanes reaching the US mainland, as in 2006"  Losses to insurers from natural disasters nearly doubled this year to just below $30 billion globally after an unusually quiet 2006, a leading reinsurer said Thursday, from winter storms in Europe, flooding in Britain and wildfires in the U.S.Munich Re warned that climate change could mean a growing number of weather-related catastrophes in coming years.'The trend in respect of weather extremes shows that climate change is already taking effect and that more such extremes are to be expected in the future,' board member Torsten Jeworrek said in a statement. 'We should not be misled by the absence of megacatastrophes in 2007.' Read more
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A string of storms, typhoons and earthquakes makes 2004 the most expensive year on record for property insurers, according to Swiss Re.
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Global warming will lead to heftier insurance claims in the long-term, insurer Swiss Re has warned.
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Swiss bank UBS  said it expected 2008 to be a difficult year after it unveiled $26.6 billion in new exposure to risky U.S. mortgages, but would not say if it would return to profit in early 2008 after huge losses in 2007.
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The world's largest disaster relief agency appealed on Tuesday for nearly $300 million in funding for 2007, some 67 percent more than last year, to help countries prepare for climate change and fight AIDS.
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Three weeks of crippling snow storms across China have inflicted $7.5 billion in damages, the government said Friday, as it announced a $700 million relief fund for farmers
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The tsunami catastrophe in south Asia  has caused economic damage in excess of 10 billion euros ($13.6  billion), a risk research expert at Munich Re MUVGn.DE, the  world's largest reinsurer, was quoted as saying on Tuesday.
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The United States plans to increase  its aid to victims of Asia's devastating tsunami to $350  million from $35 million, CNN reported on Friday.
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Natural disasters will cost insurers a record &#36;35 billion this year, after hurricanes lashed the Caribbean and southeastern United States and a record 10 typhoons soaked Japan in events seen as linked to global warming, climate experts said on Wednesday.
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World investment banks to losses of about $30bn from bad debts linked to the global credit crunch, a report says.