S & P means mangosteen will increase compensation for insurance companies in Hong Kong in the future or raise premiums – Finance News – Xincheng Finance Channel



S & P means that mangosteen will increase compensation for insurance companies in Hong Kong in the future or raise premiums

19/9/2018 10:51
The rating agency Standard & Poor & # 39; s said that the damage caused by Typhoon Mangosteen in Hong Kong and South China will increase the compensation for the insurance sector in Hong Kong, in particular property damage, business interruption insurance and car insurance, causing the industry loss will suffer. Losses related to Macao reinsurance activities or further expansion.
Standard & Poor & # 39; s estimates that the compensation that the typhoon entails amounts to $ 1 billion. The typhoon-related enormous compensation has occurred for two consecutive years.
Standard & Poor & # 39; s said that residents in Hong Kong and South China have a weak sense of disaster risk, but the insurance companies and reinsurers have a high level of capital and sufficient reinsurance coverage. The relevant compensation is expected to be mainly the profit level of the relevant companies, and the impact on capital strength will be limited. The degree of loss depends on the situation of different companies. Part of the compensation for business interruptions of Macau casinos and large companies in Hong Kong can be borne by the international reinsurance market.


Source link

Leave a Reply