Superstorm Sandy to cost reinsurer Swiss Re $900m, estimates total insured losses up to $25bn
{{#rendered}} {{/rendered}}Reinsurance company Swiss Re estimates that claims stemming from the destruction caused by Superstorm Sandy will cost the company about $900 million.
The Swiss company also estimated Monday that total losses from insured damages will total between $20 billion and $25 billion.
Superstorm Sandy last month hit the Caribbean and the Bahamas before making landfall on the U.S. East Coast, where it caused havoc, inflicting extensive damage and killing scores of people.
{{#rendered}} {{/rendered}}Reinsurance firms such as Swiss Re provide coverage to insurance companies for great losses stemming from events like natural disasters.