Hurricane Ian could worsen reinsurance capacity crisis for insurers: Fitch

Hurricane Ian, which made landfall on Florida’s Gulf Coast, is expected to generate substantial economic and insured losses – but it is not likely to affect credit for rated property/casualty (P&C) re/insurers given ample capital levels and the ability to increase premium rates, analysts at Fitch Ratings have said. The event, however, is expected to worsen the reinsurance capacity crisis for insurers, potentially causing the exit of more Florida specialist companies.