Allianz likely to face over $650 million in nat cat claims: Jefferies

Analysts at Jefferies Financial Group Inc. expect Allianz SE to face nearly €600 million ($652 million) in claims related to damage caused by the European storms and Australian floods in the first quarter of the year due to its high market exposure in these regions, Reinsurance News reported. Analysts said that the insurer’s non-life exposure to these events remains manageable as they expect the company to record 4.4% natural catastrophe loss ratio in the first quarter.