Swiss Re sees losses of less than $300 million for Hurricane Milton
Updates with estimate in paragraph 1
FRANKFURT, Nov 14 (Reuters) -Reinsurance company Swiss Re SRENH.S said on Thursday that it expects losses of less than $300 million for Hurricane Milton, thefatal storm that hit Florida hard last month, impacting the company's performance in the fourth quarter.
The company provided the figure as part of its nine-month results, which it had partlydisclosed last week
Swiss Re last week lowered its full-year earnings target to over $3 billion, down from the prior target of over $3.6 billion, a reduction it made after increasing U.S. liability reserves. It reconfirmed the target on Thursday.
Net profitwas$2.2 billion in the first nine months of the year, but Swiss Re did not provide a comparison figure after making accounting changes.
Reporting by Tom Sims and Paul Arnold, editing by Rachel More and Miranda Murray
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