Losses from hurricanes Harvey, Irma, Maria an earnings event for insurers: Moody's

Hurricane Irma, center, flanked by Katia and Lee

U.S.-based ratings firm Moody's Investors Service Inc. said that losses from hurricanes Harvey, Irma and Maria will be an earnings event for most insurers while causing modest capital depletion for some reinsurers, Reuters reported. Property catastrophe reinsurance pricing is expected to stabilize particularly for loss-affected accounts in the Caribbean‍ islands, the ratings firm said.

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