Insurers face potential losses of up to $60 billion from Hurricane Ian, which ravaged Florida and the Carolinas in September in what could be the second-largest natural catastrophe loss in U.S. history. Zurich sees its overall catastrophe loss ratio for the first nine months around two percentage points above long-term trends. Zurich holds an investor day next week when it will set out its 2023-2025 targets. Quinn said the targets will likely be tougher, after "robust premium increases" helped the insurer's recent performance. Zurich announced a 1.8 billion Swiss franc ($1.83 billion) share buyback programme at half-year results, which Quinn told an earlier media call would likely kick off in the fourth quarter.

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