Moody’s report looks at impact of Wilma

Moody’s has published a new report that concludes that the add-on losses of Hurricane Wilma - one of the most recent destructive hurricanes to hit the United States - will place incremental pressure on property & casualty insurers and reinsurers, but it is not expected to severely impact the credit quality of the industry. Early estimates indicate that Wilma may be responsible for US insured losses of up to $12bn by itself.

"Moody's does not expect to take widespread rating actions," says Senior Analyst Pano Karambelas, "but the likelihood of individual rating actions has increased given the continuing event frequency