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Hurricane Harvey damages well below those of Katrina, Sandy - Hannover Re says
August 28, 2017 / 9:14 AM / 3 months ago

Hurricane Harvey damages well below those of Katrina, Sandy - Hannover Re says

FRANKFURT, Aug 28 (Reuters) - Damages from Harvey, the hurricane and tropical storm ravaging Houston and the Texas Gulf Coast, are estimated to be well below those from major storms that have hit New Orleans and New York, according to Hannover Re on Monday.

Hannover Re, one of the world’s largest reinsurers, said that insured losses for Katrina in 2005 were around $80 billion, while losses for Sandy in 2012 were $36 billion.

“We are far from Katrina and Sandy in magnitude in the case of Hurricane Harvey,” a spokeswoman for the company said. (Reporting by Tom Sims; editing by John O‘Donnell)

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