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September 08, 2004

Swiss Re Estimates Aggregate Claims for Hurricanes Charley and Frances to be Under $300 million

Swiss Re announced that based on current estimates, it expects that its aggregate claims related to the hurricanes Charley and Frances will be under $300 million before tax.

The reinsurer's estimate on Hurricane Frances noted that it had made landfall on Sept. 5 as a category 2 hurricane with winds of up to 170 km/h (105 mph) and had caused "significant damage to property. The insured loss is expected to be in the range of $4 billion to 6 billion."

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Posted by Tom Troceen