Fitch has estimated insured losses from hurricane «Irma»

© AFP 2017 / Jose Sagesse hurricane Irma in Miami, Florida. 10 Sep 2017Fitch has estimated insured losses from hurricane «Irma»© AFP 2017 / Jose Caruci

Recoverable damages in connection with hurricane «Irma» according to various estimates, could cost the insurance industry $ 25-50 billion, said in a release, the international rating Agency Fitch.

Such losses, according to the Agency, will be significant for companies related to the insurance market (the reinsurance market) of Florida. In this case, Fitch explains that associated with hurricane «Irma» losses, according to expectations, will not have a significant negative impact on the capital adequacy of insurers. In this regard, the Agency does not expect that this influence could lead to downgrades of insurance companies in the short term.

According to the Agency, with the continuing risk of short-term losses due to hurricanes in 2017 may face some reinsurers and large insurance company. After hurricane «Irma» and «Harvey» may be additional losses that can potentially influence the ratings.

«Reinsurers will have to bear a significant share of losses from «Irma», but the reinsurance market is quite well prepared for the losses from the hurricane, partly due to the lack of major hurricanes on the coast for 11 years before the «Irma» — presented in a release to the Director of Fitch Chris Grimes (Grimes, Chris).

Hurricane «Irma» called the most powerful in the Atlantic, at least over the last decade. Experts believe that he is stronger than a hurricane «Harvey», who in late August made landfall in Texas and caused catastrophic flooding.

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