Losses unlikely to harden reinsurance market
Saturday, 10 21 2017, Category: Insurance and Reinsurance, Country: World
Despite the widespread damages caused by recent hurricanes in parts of the U.S. and the Caribbean, it’s unlikely to result in a harder reinsurance market in 2018 or a meaningful reduction in the entry of alternative reinsurance capital, according to a recent report from CreditSights.
The report finds that losses from hurricanes Harvey, Irma and Maria, combined with the impacts of earthquakes in Mexico, “may not be big enough” to drive the turn in reinsurance market pricing than many in the space had been hoping for.
As a result, the analysts suggest that a hard reinsurance market in 2018 may be wishful thinking.