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Hurricanes, particularly Harvey, Irma and Maria, alongside other catastrophe events last year wiped out a number of reinsurers' profitability for the year and drove the sector's profitability to its lowest level since 2005. Hurricanes, particularly Harvey, Irma and Maria, alongside other catastrophe events last year wiped out a number of reinsurers’ profitability for the year and drove the sector’s profitability to its lowest level since 2005. (Image: National Hurricane Center/NOAA).

Experts predict that this year’s hurricane season storm activity will be near historical averages for the Atlantic Basin, a region covering part of the North Atlantic Ocean, the Caribbean Sea and the Gulf of Mexico, according to a new report from Moody’s Investors Service.

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at djacob@alm.com.

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