UK headquartered insurance firm RSA (Royal Sun Alliance) told investors today that it expects that its losses from recent natural catastrophe events will fall “well below reinsurance limits.”
The insurer said that it expects recent events in the U.S., Caribbean and Mexico, so hurricanes Harvey, Irma and the Mexican earthquakes, will hit its marine and international portfolios of risk, with the impacts being felt in September’s results.
The company explained that, so far, the losses it has been notified about will fall well within its reinsurance limits.
That does suggest that the insurer expects to claim on its reinsurance for support in paying claims it receives, as it would likely have said if the losses were to be retained.
International insurance players like RSA will likely pass on a reasonable chunk of their losses from the recent natural disasters to their reinsurance panels.
