Swiss Re announced that it expected its aggregate claims related to hurricanes Charley and Frances to be below $300m before tax.
Swiss Re said: “These events will not change Swiss Re's positive outlook for 2004 and its combined ratio target for the full year of 96%.”
The total insured loss from Hurricane Frances, which made landfall in Florida, is expected to be in the range of $4bn to $6bn.
The total insured loss from Hurricane Charley, which also hit Florida, is expected to be $6bn to $8bn.
