European Windstorm Kyrill will impact Bermuda reinsurers less than their European counterparts, according to an investment bank last week.
Bank of America securities analyst Tamara Kravec in a note to investors said the contrast will be starker when comparing the storm that struck the United Kingdom and the continent this month to the one that struck in 2005.
Ms. Kravec said Swiss Re's estimate of $180 million in losses would represent about 4 percent of the industry's estimated total of $4.5 billion, “while its losses from Erwin were negligible.”
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