Harvey may stabilize pricing
Wednesday, 08 30 2017, Category: Insurance and Reinsurance, Country: World
Losses resulting from Hurricane Harvey and the subsequent flooding following the event could help stabilize re/insurance rates but will unlikely be enough to trigger increases.
That seems to be the consensus from analysts and rating agencies following the event. Morgan Stanley suggested that, while it is too early to gauge ultimate losses, the industry's balance sheet is strong, with plenty of excess capital and an influx of alternative capital.
“We think Harvey could help stabilize global reinsurance pricing, but do not expect a major turn in pricing to follow”.
Source: Intelligent Insurer