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Jul 2017 Storm Harvey, which has been raging since August 25, 2017 in Texas and Louisiana, is expected to cause significant damage.
According to initial estimates by the Insurance Information Institute, losses borne by insurers will range between 10 billion and 20 billion USD while economic losses are expected to reach 40 billion USD. Harvey's losses would directly affect Allstate, Berkshire Hathaway and Progressive and Travelers. Nearly half of the insured losses would be covered by reinsurers.
Swiss Re and Munich Re are exposed at 10% each. The names of Hannover Re and SCOR are also mentioned. Their incurred losses'share is estimated at 6% and 4% respectively.
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