Quarterly results affected by natural catastrophes

The major successive natural catastrophes reported since the beginning of the year have strongly impacted insurers and reinsurers’ first quarter results. Munich Re and Hannover Re have, in turn, admitted their inability to achieve their 2011 goals.
Scor has, meanwhile, posted a loss of 80 million EUR (116.5 million USD). Swiss Re has confirmed a deficit of 447.4 million EUR (648.8 million USD) and a combined ratio of 103.6%.

Allianz has reported a 44% decline of its benefits at 900 million EUR (1.3 billion USD). The same for Zurich which sustained a 32% drop of its net result at 428.7 million EUR (624.4 million USD).