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Sandy Hit Manageable for Insurers: Hiscox

Superstorm Sandy won't put insurers' finances under severe strain, and may allow them to push through a profit-boosting rise in prices next year, Hiscox , the biggest London-listed reinsurer, said on Monday.

By Myles Neligan, Reuters | Updated on November 05, 2012

LONDON (Reuters) – Superstorm Sandy won’t put insurers’ finances under severe strain, and may allow them to push through a profit-boosting rise in prices next year, Hiscox , the biggest London-listed reinsurer, said on Monday.

Sandy killed at least 113 and caused severe damage across a swathe of the north-eastern United States including New York last week. According to early estimates, insurers face a claims bill of up to $20 billion, potentially making Sandy the U.S.’s fourth-costliest natural catastrophe ever.

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