Ophelia a “relatively significant” event for (re)insurers

S&P added to reinsurers’ 2017 H2 woes by noting that it expects last month’s storm Ophelia will be a “relatively significant” loss event for the Irish (re)insurance markets. “Although it is very early to assess the insured losses attributable to Storm Ophelia, we believe losses to the insurance and reinsurance market will be relatively significant,” S&P explained.