Saturday, September 13, 2008

Insurers face Ike claims of up to $25bn

A man walks amid debris from Hurricane Ike that was cleared from the road in Galveston, Texas September 13, 2008. Hurricane Ike slammed the Texas and Lousiana coast on Saturday with ferocious winds and a wall of water that flooded hundreds of miles, cut power to millions and caused billions of dollars in damage. REUTERS/Jessica Rinaldi

Insurers were bracing themselves on Friday for the most severe hurricane losses since Katrina in 2005, as Ike bore down on the US. Deloitte said Ike could inflict claims of up to $25bn (€18bn, £14bn) on insurers and reinsurers, depending on its strength and where it made landfall. At $25bn it would be the biggest insured loss from a hurricane since Katrina generated about $40bn of claims.

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