Hurricanes Harvey, Irma and Maria (HIM) have put 2017 on course to become one of the insurance industry's most expensive years ever, with a high share of claims going to the reinsurance market
Bermudian reinsurer PartnerRe has estimated third quarter losses from Harvey, Irma and Maria (HIM) at $475mn, more than double the $197mn of operating profits it reported for the same quarter last year.
Soft market conditions may have set the scene for longer potential collateral lock-ups after hurricanes Harvey, Irma and Maria, but early negotiations on settlements are still likely, market observers said
Puerto Rico insured losses are likely to fall to a somewhat concentrated group of reinsurers including Lloyd's syndicates and Munich Re, according to regulatory filings analysed by sister publication The Insurance Insider
