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Crisis In Japan: First-Quarter Catastrophe Losses Are Creating A Significant Drag On Global Reinsurers' 2011 Full-Year Earnings May 11
Standard & Poors, May 2011
Abstract
The year isn't even half over, and major natural catastrophes have already hit many parts of the world. These events generated about $45 billion in insured losses in the first quarter of 2011. Such losses this early in 2011 have already consumed most reinsurers' catastrophe budgets for the year. For some companies, these losses might be high enough to result in a net loss for 2011, even if there are no more major catastrophes this year. With more than six months still left in the year, which include North America's hurricane season, reinsurers are crossing their fingers and keeping a close eye on the weather reports. The financial impact of the 9.0 magnitude Tohoku earthquake and following tsunami that hit...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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