One of the most expensive years for natural disasters on record is likely to cause widespread losses for insurance firms in upcoming quarterly earnings and shrink their capital cushions. The confluence of three major Atlantic hurricanes—Harvey, Irma and Maria—and two Mexican earthquakes in recent weeks could cost the global insurance industry more than $100 billion, according to estimates. Of that natural-disaster damage bill, a large amount is expected to be borne by reinsurance companies, which provide insurance to insurers.

Source: Wall Street Journal October 02, 2017 12:00 UTC