Swiss Re expects cyclone Debbie-claims to surpass $300 million

Swiss Re Ltd. expects claims of $320 million from cyclone Debbie, which hit Australia in March causing total insured losses estimated at more than $821 million, xprimm.com reported. Swiss Re's net income in the first quarter totaled $321 million as the natural catastrophe losses were partly offset by favorable prior-year development. Gross written premiums declined 17.6% to nearly $6 billion.

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