Harvey & Irma could strain reinsurers
Wednesday, 09 20 2017, Category: Insurance and Reinsurance, Country: World
The combined losses caused by hurricane Harvey and hurricane Irma could be sufficient to strain some reinsurers capital and perhaps even pressure their ratings, according to Fitch Ratings.
The rating agency believes that given the complexity of Harvey losses and the breadth of the impact of Irma, it cannot be ruled out that some reinsurance companies may face a larger than expected share of the loss, potentially enough to become a capital event for them.
Largely it is expected that the hurricanes will be no more than an earnings event for the majority of the reinsurance market, as well as for the larger primary players with surplus on hand.