timoph / istockphoto.com
French reinsurer SCOR has come out relatively unscathed from the record nat cat losses in the third quarter and is expected to be in a good position to take advantage of rising rates in the impacted region.
While SCOR’s big European competitors may have been hit harder by the events they are perceived as strong enough to cope with significant losses from hurricanes and earthquakes. But for some Bermuda and Lloyd’s players the hit has been so strong that they may need fresh capital.
Hurricanes in North America and the Caribbean and earthquakes in Mexico are estimated to have caused around $100 billion in insured losses in the third quarter of 2017, resulting not only in an earnings event but also a capital event for some property/casualty reinsurers.
Reinsurance, Catastrophe, Results, SCOR, Munich Re, Swiss Re, Hannover Re, Validus, RenaissanceRe, PartnerRe, AXIS Capital Holdings, North America