A store in Rockport, Texas, was damaged by Hurricane Harvey. Photo: mark ralston/Agence France-Presse/Getty ImagesThe insurance and reinsurance industry is likely to easily absorb the losses from Hurricane Harvey, executives and analysts say. With such strong capital positions, an event like Harvey is unlikely to badly hurt insurers’ balance sheets or even hurt earnings outside of firms with significant Texas exposure. Hurricane Harvey could cause losses for holders of catastrophe bonds. “We don’t see [Hurricane Harvey] as a disruptive type of event” in the cat-bond marketplace, said Paul Schultz, CEO of Aon Securities.

Source: Wall Street Journal August 27, 2017 15:55 UTC