Insurers will require a 10 percent boost in overall capital requirements on average to meet the challenges of increased catastrophe probability, according to a new report from Fitch Ratings.
In addition, carriers will see a 40-to-65 percent increase in capital required to support catastrophe risk, Fitch predicted.
In a conference call this morning, analyst Peter Patrino noted that in the past few months, Fitch has moved to gauging catastrophe risk on an annual aggregate basis as opposed to a single-event occurrence.
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