Reinsurers 2017 earnings to fall 80%
Tuesday, 10 03 2017, Category: Insurance and Reinsurance, Country: World
According to some equity analysts that track the insurance and reinsurance sector, reinsurers should anticipate losing 80% or more of their 2017 earnings due to the impacts of the hurricane season and other catastrophe events.
Having analysed some of the industry loss estimates, including the one for hurricane Maria from AIR Worldwide, analysts are beginning to come to the conclusion that the 2017 catastrophe events could become a capital event for some and a significant hit to earnings for the majority of the reinsurance market.
Analysts at J.P. Morgan see the catastrophe loss to the industry in 2017 as becoming the largest bill on record, at around US $140 billion when factoring in a normal fourth-quarter cat loads as well.