Swiss Re pegs Debbie claims at $350mn

Swiss Re issued a higher-than-expected claims estimate of $350mn
from Cyclone Debbie, which struck Queensland and New South Wales on
28 March.
The reinsurance giant noted on Thursday that insured losses for
wind, flood and storm surges from Debbie were about $1.3bn across
the industry as a whole. Its estimate of its own losses is net of
retrocession and before tax.
Swiss Re group chief underwriting officer Matthias Weber said:
"We are a lead reinsurer in this market and estimate...