The 2008 cyclonic season has been characterized by the numerous cyclones that have lashed the Gulf of Mexico, the Caribbean and Southern United states.
Hurricane Gustav (August 25- September 2), the season's second major cyclone, has claimed the lives of 138 people. By September 15, economic damage was estimated at more than 20 billion USD, 15 billion of which in the United States while insured damage is likely to cost between 2.5 to 4 billion USD.
Hurrican Ike, (September 1 to 14), the season's third major cyclone, has claimed the lives of 180 persons, 63 of whom in the United States. Economic damage is estimated at more than 32 billion USD, 14 billion of which in insured damage.
According to first estimates, hurricanes Gustav and Ike combined would cost Swiss Re 300 million USD and Paris Re 115 million USD.