"The scale of Hurricane Ian's losses, particularly in Florida, will likely mean insured losses will drift higher as inflation and litigation add to the toll,' Bloomberg Intelligence analysts wrote in a note. "Hurricane Ian could turn out to be a record breaking storm." (Credit: Eva Marie Uzcategui/Bloomberg)
(Bloomberg) — Munich Re said it will probably take a hit of about 1.6 billion euros ($1.57 billion) after Hurricane Ian led to massive damages in Florida, and warned reaching its full-year profit goal has become "significantly more challenging."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
