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Stocks Suffer from Hurricane Reinsurance Claims

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Reinsurance companies such as Swiss Reinsurance were caught by surprise by the 2005 US hurricane season. The sheer volume of claims caused Swiss Re's profits to fall by 41% from the previous year and resulted in a sharp stock price decline of over 6 per cent this year.
 

Hurricane claims hurt Swiss

International Herald Tribune - 3/3/2006 8:26 AM

Swiss Re had 3 billion francs of claims related to storms, including Hurricane Katrina, more than double the level of a year earlier. The reinsurer was predicting 10 percent earnings growth in 2005 until Katrina wiped out communities along the U.S. Gulf
 
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