losses – Charm – Daily News

Hong Kong fire to add pressure to P&C sector’s earnings: S&P

2 days ago04 mins

A new review by S&P Global Ratings notes that losses from the recent destructive fire at a Hong Kong residential complex are likely to further strain the underwriting performance of the territory’s property and casualty (P&C) insurance industry. Hong Kong’s P&C sector is expected to see its net combined ratio rise to 97%-98% in 2025,…

Reinsurers expected to shoulder most of $200m loss from Hong Kong fire: AM Best

4 days ago03 mins

According to ratings agency AM Best, a material portion of the gross incurred loss, which may exceed $200 million from the deadly Hong Kong apartment (Wang Fuk Court) fire, is expected to be transferred to reinsurers. This is because primary insurers typically rely on a mix of reinsurance arrangements, including facultative, proportional, and non-proportional treaties,…