Isabel ?No Serious Threat' to Ratings: S&P
NU Online News Service, Sept. 18, 4:26 p.m. EDT?-Standard & Poor's Ratings Services predicted this afternoon that based on preliminary loss projections, Hurricane Isabel "probably will not have a material impact" on primary property-casualty insurer or reinsurer ratings.
Steven Dreyer, analyst at New York-based S&P, commented that p-c insurers and reinsurers would be able to "absorb this sort of loss without widespread rating downgrades or insolvency concerns" even with capital depletion in recent years from terrorism losses, asbestos claims, and natural catastrophes.
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