Hurricane Ike–which caused anywhere from $6 billion to as much as $18 billion in insured losses, catastrophe modelers estimate–will likely boost the industry’s combined ratio, perhaps back over the magic 100 mark for the year, but will not substantially alter the current soft market’s direction, analysts say.

Standard & Poor’s and Fitch Ratings put out papers last week acknowledging that the losses from Ike, along with other tropical storms this season, could mean a downside in earnings for the industry.

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