ILS could bear up to $18 billion in hurricane-related losses

U.S.-based rating agency A.M. Best Co. Inc. said that the insurance-linked securities market is likely to record up to $18 billion in catastrophe-related losses from the 2017 hurricanes Harvey, Irma and Maria, Artemis.bm reports. A.M. Best said that the collateralized reinsurance and retrocession sector is likely to bear the brunt of the hurricane-related losses. The catastrophe bond market is expected to record about $500 million in losses related to the hurricanes. The ILS market is likely to have lost up to 20% of its capital and capacity due to the storms.

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