The explosions that ripped apart parts of the Chinese port city of Tianjin in the summer are set to cost Swiss Re
about $250m, the reinsurer forecast yesterday.
David Cole, finance director, said loss adjusters were still struggling to assess the damage as Chinese officials deal with the toxic fallout, 11 weeks after the blasts. As a result, he added, the figure booked in Swiss Re’s third quarter financial results was only a “best estimate”.
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