NU Online News Service, Jan. 25, 2:35 p.m. EST
Although the global reinsurance industry is coming off a year of near-record-level catastrophes and faces challenges in the coming year, Standard & Poor's says it is maintaining a stable outlook on the sector due to surplus capital and strong enterprise risk management capabilities.
In a ratings update, S&P says it is raising its combined-ratio estimate for the reinsurance sector to between 110 and 115, up from between 105 and 110. The ratings agency adds that “many companies could fail to meet our earnings expectations” for the year.
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