Swiss Re Expects $750M Hit From Hurricane Ida Damage

By Martin Croucher (October 5, 2021, 12:26 PM BST) -- Insurance giant Swiss Re said on Tuesday that it will probably take a financial hit of $750 million from Hurricane Ida, which caused widespread devastation in the U.S. state of Louisiana in August.

The company said the projections were based on its share of an estimated total insurance industry loss of between $28 billion and $30 billion.

Hurricane Ida made landfall at Louisiana on the Gulf of Mexico on Aug. 29 as a category four hurricane, damaging infrastructure and leaving more than a million people without power. The storm moved toward the northeast of the country, triggering widespread flooding in areas...

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