Second-quarter 2013 catastrophe losses for Zurich and XL Group total more than $400 million, with the former shouldering the larger share. Zurich says its losses amount to $278 million, including floods in Europe and severe storm damage in the U.S.
The Switzerland-based insurer says floods in Central and Eastern Europe amounted to approximately $140 million in losses. The European flooding was the worst in the region in more than a decade, causing extensive damage along the Danube and Elbe main watersheds in May and June.
In the U.S., two severe tornadoes that hit the Oklahoma City Metropolitan area in May will cost approximately $138 million. The losses will be borne by both its Zurich North America and Farmers Re groups.
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