Matthew losses to fall within catastrophe budgets
Tuesday, 10 11 2016, Category: Nature, Country: World
Losses to the insurance and reinsurance industry from hurricane Matthew are expected to largely fall within the sector’s catastrophe budgets for the second half of 2016, according to analysts at Peel Hunt.
As we wrote earlier today, the early insurance and reinsurance industry loss estimates suggest an impact to the sector somewhere around the $4 billion to $6 billion mark, while some modelled scenarios from Saturday morning suggested a maximum insurance industry loss of $8 billion in the U.S.
Analysts at Peel Hunt, in a report on the potential impact of hurricane Matthew to some Lloyd’s of London re/insurers, said that it expects “aggregate insured losses are more likely to fall within our catastrophe budgets for 2016H2 than moderately exceed them.”