Insight and Intelligence on the London & International Insurance Markets 22 Oct 2017
London market to harden: Fitch
- 13 October 2017
Fitch Ratings has joined a growing chorus of commentary forecasting a hardening (re)insurance market.
The rating agency said in its third quarter London market Autumn Dashboard that recent catastrophe losses would cause price rises on loss-affected lines and could push up rates across the wider market.
Citing estimates from RMS that hurricanes Harvey, Irma and Maria would cost carriers between $75bn and $120bn, Fitch said it expected earnings in London to be "significantly reduced" compared to last year.
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