Hurricane season is far from over and it already looks like it could be a record year for catastrophe losses.

Following the devastation caused by Hurricane Maria, 2017 catastrophe losses for the global insurance and reinsurance sectors will exceed $100 billion and could reach close to $190 billion on a pretax basis, Fitch Ratings says. 

Record year?

Losses on this scale, which at the upper end would be the highest on record in a single year, could weaken capital at some reinsurers and increase the risk of rating downgrades.

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Jayleen R. Heft

Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].

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