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ZURICH (Reuters) – Swiss Re (OTC:SSREY) has estimated its preliminary claims burden from Hurricane Ida at $750 million, the reinsurer said on Tuesday, while updating its loss estimate for the July floods in Europe to approximately $520 million.
Hurricane Ida’s damage to U.S. offshore energy production made it one of the most costly since back-to-back storms in 2005 cut output for months.
Ida devastated the Midwestern United States’s power grid, while also causing rain and intense flooding that killed dozens in the Northeast.
