Zurich forecasts Hurricanes Helene, Milton impact below $360 million as catastrophe losses rise
LONDON (Reuters) -Zurich Insurance Group said on Thursday that its exposure to Hurricanes Helene and Milton, which recently wreaked havoc in the United States, would be less than $360 million, as insurers face increasing losses from natural catastrophes. In addition to hurricane damage, insurers have seen a rise in losses from so-called "secondary perils" such as storms, hail, wildfires and floods in recent years, which they attribute partly to climate change. "We need to shift the attention from just focusing on hurricanes to those secondary perils that are starting to have an ever increasing impact on financial results but also on society," said Zurich Chief Financial Officer Claudia Cordioli.