August 3, 2018 / 8:13 AM / 4 months ago

Swiss Re CFO says multiple hurricanes an increasing threat

ZURICH (Reuters) - Swiss Re’s finance chief expects multiple, powerful hurricanes to become more common as climate change warms the world’s oceans, he said on Friday.

“Last year’s three hurricanes together — the 135 billion (dollars) of losses — (were) a one-in-10-year event, not a one- in-a-100-year event. We see the possibility for repetition of these kinds of losses in the foreseeable future,” John Dacey told CNBC in an interview.

He played down the financial impact of large wildfires this summer.

“The actual losses from large fires — whether in California, Portugal (or) most recently the tragic ones in Greece — are tragic in their local content but actually are not particularly large losses for a group like Swiss Re,” he said.

Reporting by Michael Shields; editing by Jason Neely

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