Matthew could cause a 95% fall in reinsurer profit: S&P

Reinsurers affected by Hurricane Matthew could see pre-tax
profits fall by around 95 percent on average if the storm hits as a
1-in-50-year event, according to Standard & Poor's
(S&P).
In a statement released today, the rating agency said the
forecasted pre-tax profits of the 21 rated reinsurers it analysed
were expected to cover the losses from Matthew.
However, if the storm amounts to a 1-in-50-year event, 24
percent of rated reinsurers would likely suffer a net operating
loss for...