Reinsurers to take at least 50% of loss from Canada wildfires: S&P

Standard & Poor's Corp. said that it expects reinsurers to take at least 50% of the loss from the recent Fort McMurray wildfires in Canada, reported Artemis.bm.

The wildfire is likely to be an earnings event for both primary insurers and reinsurers, the rating agency said.

"The event, in our opinion, would likely continue to reinforce the trend of rate increases, particularly for insured risks in Alberta more than other provinces," said S&P.

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