From Artemis, April 18:
PCS says Ukraine insured losses could rise above $20bn
The ultimate insurance and reinsurance industry loss from the ongoing conflict in Ukraine could rise above US $20 billion, according to analysis from PCS, a Verisk company, which has provided some data the ILS market may find helpful in understanding what, if any, exposure its structures may hold.
PCS cautions that deriving an accurate estimate is not possible with the conflict ongoing and war raging in the country still.
But after analysing data from its own relevant product offerings, the PCS Global Aviation, PCS Global Marine and Energy, and PCS Global Large Loss services, as well as internal research, PCS has provided us with some useful data that will help insurance, reinsurance and insurance-linked securities (ILS) market interests in understanding any potential exposure to the ongoing war in Ukraine.
PCS says it currently believes the industry loss will come in between a low-end estimate of $13.05 billion, to more than $23 billion.
PCS currently has a working estimate of $20.6 billion, based on its analysis of various specialty lines of business.
Overall, it states that the insurance and reinsurance market loss from the conflict in Ukraine will be the largest political violence loss in history....
....MUCH MORE
