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Member, Beacon International Group, Ltd.
ZURICH—Swiss Reinsurance Co. Ltd. updated its claims from the Chile earthquake Friday to approximately $630 million from its previous estimate of $500 million.
The Zurich-based reinsurer said the new estimate reflects more specific information from clients on actual damage to individual properties and businesses. Swiss Re said the final cost still remains subject to change.
The quake struck Chile and heavily damaged parts of Concepción and Santiago on Feb. 27. Swiss Re previously estimated total economic losses from the quake could reach $15 billion, with insured losses ranging from $4 billion to $7 billion.