Reinsurers' earnings vulnerability to cats rises: S&P

Soft market conditions mean that rising catastrophic occurrences
worldwide are becoming a bigger threat to underwriting profits at
reinsurers, according to Standard & Poor's (S&P)
analysts.
In a report, the analysts said that although reinsurers'
balance exposure to extreme natural events is largely unchanged,
earnings exposure has increased such that reinsurers are now twice
as likely to report an underwriting loss due to nat cat losses as
they were in 2012.
"Given that prices are conti