50% of $5bn Matthew loss to fall to reinsurance
Friday, 10 14 2016, Category: Insurance and Reinsurance, Country: World
Analysts at J.P. Morgan have said that an approximate $5 billion insured industry loss from hurricane Matthew would see reinsurers front roughly 50% of the bill, and would see Europe’s big four reinsurers call on divergent levels of retrocession.
Insurance and reinsurance industry loss estimates from the impact of hurricane Matthew, one of the strongest storms to impact Florida and the U.S. in years, continue to come in from risk modellers and market analysts.
CoreLogic had been the first to put out an estimate at $4 billion to $6 billion.