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4 July 2024Insurance

Beryl’s early strike may hike reinsurance prices; Caribbean carriers’ impact ‘more severe’

The severity of Hurricane Beryl unusually early in the Atlantic hurricane season serves as a stark warning to the insurance industry and may drive up prices for third or fourth event reinstatement cover, AM Best has warned. While reinsurance industry losses are expected to be within risk appetite, Caribbean primary carriers could face more severe earnings impacts than from previous storms.

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