Hurricane season in numbers
The hurricane season in North America cost reinsurer Swiss Re billions. Overall, the company estimates the losses caused by Hurricanes Harvey and Irma to total up to USD 70 billion. In comparison, Hurricane Andrew in 1992 caused losses estimated at 17 to 20 billion dollars.
The hurricane season in the US and the Caribbean is costing Swiss Re dearly. The reinsurer expects total costs of around USD 3.6 billion for the third quarter. Meanwhile, total insured losses from hurricanes Harvey, Irma and Maria and the earthquake in Mexico are estimated at around USD 95 billion.
Harvey and Irma
The hurricane season, which runs until November, is already one of the most devastating in the US since records began. From the end of August onwards, events in the Caribbean and the southeast of the USA have been in overdrive.
Harvey hit the Texas coast on 25 August, with massive rainfall causing severe flooding, particularly in the Houston region. It is estimated that Harvey may have caused insured costs of 25 to 35 billion dollars. However, a large part of this falls to the national flood protection programme.
Hurricane Irma made landfall in Florida on 10 September. And here, too, experts expect a burden of 25 to 35 billion dollars for insurers. The Caribbean was hit by Hurricane Maria after Irma. Loss estimates for the region range between 10 and 20 billion dollars. The US territory of Puerto Rico was also badly affected. (Source: SDA)
