Zurich forecasts Hurricanes Helene, Milton impact below $360 mln as catastrophe losses rise

Zurich Insurance Group's Losses: Zurich estimates its exposure to Hurricanes Helene and Milton will be less than $360 million, while analysts predict up to $55 billion in insured losses from these hurricanes. The company is also facing increasing losses from secondary perils linked to climate change.

Market Trends and Future Plans: Despite a rise in gross written premiums by 4% in the first nine months of 2024, global commercial insurance rates fell for the first time in seven years. Zurich plans to present new financial targets on November 21 and has denied any intentions to acquire Baloise.