Ethiopian Airlines, MAX claims pressure Swiss Re profit

Source: Business Insurance

Thomson Reuters July 31, 2019 (Reuters) — Swiss Re Ltd.’s first-half net profit fell 5.3% as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes, took their toll. The world’s second-largest reinsurer highlighted claims from last year’s Typhoon Jebi in Asia, storm losses in Australia, and claims from the Ethiopian Airlines crash in March. There were also claims relating to the grounding of the Boeing 737 MAX fleet that followed the Ethiopian Airlines crash.