Resilient for now : a second wave could eat into insurers' capital
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<title>Resilient for now</title>
<subTitle>: a second wave could eat into insurers' capital</subTitle>
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<namePart>Sugrue, Dennis</namePart>
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<namePart>Standard & Poor's Insurance Rating Services</namePart>
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<dateIssued>2020</dateIssued>
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<abstract displayLabel="Summary">Global insurance ratings have proven resilient during the first wave of the COVID-19 pandemic as capital strength helped stave off widespread downgrades. Capital buffers will be eroded through the second half of the year as financial market losses and insurance claims pile up, particularly for industrial lines re/insurers. Asset risk outweighs insurance risk, particularly for life insurers and those with thin capital buffers. While not our base case, a prolonged economic recovery resulting in a more severe or prolongedfinancial market dislocation would put a strain on capital and earnings, increasing the risk of downgrades.</abstract>
<note type="statement of responsibility">Dennis Sugrue</note>
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