Zurich Financial Services Group announced that “based on preliminary estimates it expects aggregate claims payments related to winter storm Kyrill not to exceed $150 million before tax.”
Zurich noted that the “estimate is well within the Group’s net retention for European storm risks. The storm hit Europe on January 18 of this year affecting large areas of the United Kingdom and Germany as well as several other countries. Charges for Kyrill will be recorded in the results for the first quarter 2007, which are due to be released on May 16, 2007.”
Topics Claims
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