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Swiss Re Group, the global reinsurance company with U.S. headquarters in Armonk, today estimated its insurance claims burden from Hurricane Sandy at about $900 million.
The company estimated total insurance losses from the late October disaster at $20 billion to $25 billion.
Swiss Re officials in Zurich, Switzerland, cautioned the claims estimate is subject to a higher than usual degree of uncertainty and may need to be adjusted as business interruption claims are reviewed.
