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The rush of natural disasters sees reinsurers suffering

  • Publish Date: Posted over 6 years ago

The number of recent earthquakes and hurricanes that have devastated countries around the world are beginning to impact the global reinsurers.

Due to the increasing claims from natural disasters, Hannover Re has announced they may not reach their 2017 profits, the first time a warning like this has come from the company since the 2008 global financial crisis.

In the wake of Hurricane Harvey and Irma, Munich Re has made a similar announcement, making them the first major reinsurer to issue a warning relating to its 2017 earnings. This is the first time the company have issued a profit warning since 2011 after incurring losses from an earthquake and the tsunami in Japan.