NATURAL DISASTERS COST SWISS RE $1BN

REINSURANCE giant Swiss Re faces an estimated $800m (£491m) in claims from the earthquake that devastated Christchurch, New Zealand, last week, it said yesterday. When combined with the floods that hit Australia in January the loss is expected to reach $1.025bn – greater than its allocated budget for catastrophes in 2011. Swiss Re is likely to see its full-year profits fall as a result of the disasters.