Hannover Re sees Los Angeles fires claims of 500-700 million euros

FRANKFURT (Reuters) – Fires in the Los Angeles area may result in claims of between 500 million euros ($518.95 million) and 700 million euros for the reinsurer Hannover Re, the company’s chief executive Jean-Jacques Henchoz said on Thursday.

He said that industry-wide losses could total between $30 billion and $40 billion.

($1 = 0.9635 euros)

(Reporting by Tom Sims and Alexander Huebner, Editing by Miranda Murray)