Primary insurers to bear brunt of Harvey losses: S&P

Insurers, rather than reinsurers, are expected to take the
lion's share of losses from Hurricane Harvey, according to the
ratings agency Standard & Poor's.
Based on early estimates of losses of around $6bn, excluding
flood losses, primary insurers are expected to retain the bulk of
the losses.
S&P said: "Based on these early estimates, we believe
that Hurricane Harvey will likely be an earnings event rather than
a capital event for the property/casualty (P/C) insurers and
reinsurers. As