Rating agencies are now starting to take a look at what companies could face financial peril from Hurricane Katrina losses.

Standard & Poor's this morning raised a red flag on 10 insurance groups facing unusual financial strain from the storm losses in the Gulf region.

Also today, Moody's issued a report that did not specify any companies but asserted carriers "with outsized exposures to the affected region could face ratings downgrades, particularly if they do not recapitalize quickly."

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Reinsurance