P&C reinsurers hit by 2017 catastrophes
Thursday, 03 29 2018, Category: Insurance and Reinsurance, Country: United States
Property & casualty (P&C) reinsurers experienced the largest impact from catastrophes in 2017, reporting $5.5 billion of losses, up from $1.1 billion in the prior year, according to Fitch Ratings.
For P&C re/insurers, 2017 brought the first aggregate underwriting loss since 2011.
Reinsurers and Florida specialist sub-segments were hard hit, with catastrophe losses representing 24% and 11.6% of earned premiums in 2017, respectively.