25% of reinsurers could face a loss triggered by Mathew
Saturday, 10 08 2016, Category: Insurance and Reinsurance, Country: World
Hurricane Matthew will represent a real test of reinsurers’ exposures and resilience as it has the potential to erode some of the global reinsurance sector's excess capital, according to a report by S&P Global Market Intelligence.
Hurricane Matthew has passed through Haiti, the Dominican Republic, and Cuba and is currently passing through the Bahamas on course to hit the central east coast of Florida with category 4 strength on the Saffir Simpson Hurricane Wind Scale.
Matthew has already caused significant economic losses and more than 100 deaths in the Caribbean. In particular, Haiti has suffered its largest catastrophe-related losses since the earthquake in 2010.
Source: Intelligent Insurer