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Reinsurers to absorb significant coronavirus losses

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Magazine Issue: 
The pandemic risk, insurers’ future Eldorado [3]
Magazine date: 
Jul 2020

BusinessFitch Ratings [4] believes that reinsurers are absorb significant coronavirus-related losses. According to the rating agency, the overall combined ratio of the reinsurance market increased by 10.4 points during H1 2020 and was set at 101.8% compared to 91.4% in 2019.

Such deterioration is closely linked to business interruptions and cancellation of events caused by Covid-19. Damages caused by natural disasters also contributed to deteriorating the results.

Sirius International Group, Partner Re and AXIS Capital Holdings recorded losses 10% higher than the earned premiums of H1 2020. The losses are due to a high amount of the coronavirus reserves.

Fri, 04/09/2020 - 13:56

Source URL: https://www.atlas-mag.net/en/article/reinsurers-to-absorb-significant-coronavirus-losses

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