Navigation on swissre.com Quick navigation , to Homepage Open Search Open Main Navigation Swiss Re Group Media News Releases Swiss Re estimates Hurricane Ida claims at USD 750 million Article information and share options Published on: 05 Oct 2021, Zurich Share Ad hoc announcement pursuant to Article 53 LR Zurich, 5 October 2021 – Swiss Re estimated its preliminary claims burden from Hurricane Ida at approximately USD 750 million[1]. On an industry level, Swiss Re estimated total insured market losses to be in the range of USD 28–30 billion[2]. Hurricane Ida, the second-most intense hurricane on record to hit the US state of Louisiana, also caused extensive wind and flood damage across the Eastern and Mid-Atlantic parts of the US. After making landfall on 29 August 2021, the category 4 hurricane caused wide-ranging power outages and severe infrastructure damages particularly in Louisiana, before triggering exceptional flash flooding and storm surges in the Northeastern regions of the country. Swiss Re also updated its loss estimate for the July floods in Europe at approximately USD 520 million[1]. The Group estimated total insured market losses of the industry for this event at approximately USD 12 billion. The foregoing estimates are subject to uncertainty and may need to be subsequently adjusted as the claims notification and assessment process continues. [1] Net of retrocessions and before tax. [2] Excluding National Flood Insurance Program (NFIP). Downloads Click to show content for Downloads CONTACT Footer Share Price CHF 00.0 − 0.0% CET Newsletters Subscribe Contact us Contact Privacy policy Legal Notice UK Slavery statement Follow us on LinkedIn Follow us on Twitter Follow us on YouTube Follow us on Instagram © 2021 Swiss Re All rights reserved. Your choice regarding usage of cookies on our website. We use cookies to ensure that we give you the best experience on our website and to provide aggregated information about visits to our website. Some of the cookies are essential for the website to work, others affect the way you enjoy our services in a significant way. You can check your cookie settings here. I Accept the use of cookies Change privacy Settings