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Hurricane Maria boosts 2017 catastrophe losses to more than $100 bln -Fitch
September 26, 2017 / 6:45 PM / in 22 days

Hurricane Maria boosts 2017 catastrophe losses to more than $100 bln -Fitch

Sept 26 (Reuters) - The probability of ratings downgrades for global insurers and reinsurers is mounting as the industry faces more than $100 billion in 2017 catastrophe losses, Fitch Ratings Inc said in a report on Tuesday.

Losses from Hurricane Maria, along with other 2017 catastrophes, will constitute a “capital event” for a number of reinsurance companies, instead of an earnings event, Fitch said. But reinsurers’ “very strong” capital levels limit risks to solvency, Fitch said. (Reporting by Suzanne Barlyn; Editing by Jonathan Oatis)

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