⛈Hurricanes Harvey, Irma and Maria will cost Munich Re €2.7bn | Munich Re .
One of the world’s biggest insurance firms has said it will take a loss in the third quarter because of hurricanes Harvey, Irma and Maria.
Munich Re expects the hurricanes that ravaged parts of the US and the Caribbean to cost it €2.7bn (£2.4bn) owing to major loss expenditure.
The firm, which insures other insurance companies, said estimates were “still fraught with considerable uncertainty”.
The insurer now projects a “small” profit for 2017 because of the claims.
https://www.munichre.com/en/media-relations/publications/press-releases/2017/2017-10-26-press-release/index.html
Hurricanes dent profits at insurance giant Munich Re – BBC News