Hato impact on local carriers will be moderate: AM Best

Typhoon Hato will moderately impact the earnings of non-life
insurers in Macau, but will have a limited effect on their
financial strength ratings, according to AM Best.
On August 23, Typhoon Hato made landfall just north of the Asian
casino hub at a strength of Category 2.
AM Best said it expected that the storm would have limited
rating impact on the affected non-life insurers, given their
conservative reinsurance arrangements, low penetration of natural
catastrophe coverage on personal lines