Hurricane Harvey, which lashed Texas and Louisiana with unprecedented rain last month, could end up costing insurers between $25 and $30 billion (21 and 25 billion euros), German reinsurance firm Munich Re estimated on Sunday.

"It is a big estimate. The cost could climb a little bit, but not much," said Torsten Jeworrek, a member of Munich Re's management board, during at an insurance conference in Monaco.

source: AFP