Germany’s Allianz SE has announced that its losses from Hurricane Sandy are estimated to total €455 million [approximately $607 million at current rates]. Allianz’ bulletin used a lower exchange rate to put the estimate at $590 million. The figure is preliminary, and includes payments to customers and related items such as reinsurance reinstatement fees.
Allianz SE’s CFO Dieter Wemmer, Chief Financial Officer commented: “Despite the impact of Hurricane Sandy, we continue to expect our operating profit for 2012 to exceed €9 billion [app. $12 billion].”
Allianz will publish its year-end figures, including those for 2012 natural catastrophe impact, on February 21, 2013.
Source: Allianz SE
Topics Trends Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Endless Shrimp Deal Was Scheme to Squeeze Red Lobster, Suit Says 
NAIC Says Data Taken in Hack Has Been Published Online 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
Camp Mystic Seeks Bankruptcy to Settle Texas Flood Wrongful Death Claims 
