Hurricanes likely to cause billions of dollars in losses: Swiss Re

John Dacey, chief financial officer at Swiss Re Ltd., said that hurricanes are likely to become more common and powerful due to climate change and cause billions of dollars in losses, Reuters reported citing CNBC. Mr. Dacey said that hurricanes Harvey, Irma and Maria caused $135 billion in losses in 2017 and were a one-in-10-year event. Wildfires across the world are unlikely to cause large losses for big reinsurers such as Swiss Re, he added.

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