Half of wildfire loss could go to reinsurers: S&P

At least half of all losses stemming from the wildfires that swept
across Alberta a fortnight ago will impact the global reinsurance
markets, according to Standard & Poor's (S&P).
The ratings agency said reinsurers could pay up to half the
losses at the lower end of the range, but added that the proportion
ceded will increase if loss estimates rise.
It said primary insurers should be able to cope with the event,
as those exposed had sufficient available reinsurance coverage,...