Moody’s stable on global reinsurers
Tuesday, 12 12 2017, Category: Insurance and Reinsurance, Country: World
Moody’s Investors Service holds a stable outlook for global reinsurance companies despite the impacts of third-quarter catastrophe losses, citing strong capital positions and the expectation of price hardening.
Global reinsurers are expecting price hardening at the upcoming renewals in light of Q3 catastrophe losses that are estimated to reach around $100 billion for the industry, expectations that are supported by the recent October, California wildfires.
According to Moody’s, its survey of reinsurance buyers shows that buyers are expecting to pay more for protection on loss-affected lines during the 2018 renewals, with nearly half of survey respondents expecting prices to rise by more than 7.5%.