Hurricane Irma expected to become capital event for re/insurers

Hurricane  Irma is expected to cause much higher insured losses than Hurricane Harvey and may result in a capital event for re/insurers, said a report published Sept. 8 by S&P Global Ratings.

"Strong capitalization will help mitigate the impact, but Irma will likely stress-test not only the re/insurers but also the staying power of third-party capital," said S&P Global credit analyst Hardeep Manku.

"Regional pricing is also likely to harden, but the impact on global re/insurance pricing is debatable," Manku added.

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