Swiss Re, Munich Re may exceed cat budgets on Faxai

Posted On: Oct. 1, 2019 7:00 AM CST

Roofs of houses severely damaged by Typhoon Faxai, in the municipality of Minamiboso, south of the province of Chiba in Japan./ SHUTTERSTOCK.COM

Analysts at Deutsche Bank AG said that typhoon Faxai is expected to push the big four reinsurers beyond their natural catastrophe budgets for the third quarter, Artemis reports. These reinsurers include Swiss Re Ltd., Scor SE, Munich Reinsurance Co. and Hannover Re SE. Swiss Re is expected to take the largest hit from the typhoon given its market share in Japan.