July 22, 2020 / 4:26 PM / 22 days ago

Swiss Re says COVID-19 claims, reserves led to $1.1 bln H1 loss

ZURICH, July 22 (Reuters) - Reinsurance company Swiss Re said on Wednesday that claims and reserves of $2.5 billion related to COVID-19 will result in a net first half loss of about $1.1 billion.

The company also said it completed its ReAssure unit sale.

"Based on our current information and related assessments, and noting the unusually high level of uncertainty related to these insured losses, we expect the claims and reserves we have booked the first half of 2020 to cover the majority of our ultimate COVID-19 losses," Chief Financial Officer John Dacey said in a statement.

Reporting by John Miller

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below