September 4, 2017 / 12:54 PM / in 3 months

Harvey unlikely to boost global property reinsurance rates: Moody's

LONDON (Reuters) - Ratings agency Moody’s said on Monday it did not believe global property reinsurance prices trends would be materially affected by Hurricane Harvey, though rates in affected regions could rise.

Intense competition led to declining property and casualty reinsurance premiums in the second quarter, Moody’s said in a report, but it added that “reinsurers have ample capital to absorb Harvey losses”.

Reporting by Carolyn Cohn, editing by Maiya Keidan

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