Hurricane Dorian Likely To Cause $25 Billion Of Losses, UBS Says
Tuesday, September 3rd, 2019 Catastrophe PropertyHurricane Dorian, the storm currently devastating the Bahamas, will cause at least $25 billion of losses for insurers, according to analysts at UBS Group AG, a figure that would make it the most expensive natural disaster for the industry since 2017.
Dorian could inflict losses of as much as $40 billion, depending on whether the storm hits the eastern coast of Florida in the next few days, the analysts said in a note.
The hurricane is already the most powerful storm to make landfall in the Atlantic since the 1935 Labor Day hurricane, according to the National Weather Service. The last natural disaster to cause more than $25 billion of insured damages was Hurricane Maria two years ago, according to Munich Re, which compiles a database of the biggest losses.
