Swiss Re Estimates 2007 Catastrophe Claims of $35 Billion

Swiss Re said it estimated claims for the industry from natural catastrophes in 2007 would amount to about $35 billion, well above a benign 2006 with $12 billion in natural catastrophe

The Swiss reinsurer said in a statement this continued the long-term trend towards high natural catastrophe claims.

Recent capital market volatility reemphasised the value of reinsurance as an effective measure for risk diversification.