AM Best has said the industry could easily pay all of its obligations from Hurricane Katrina should they reach $25bn.
The ratings agency said Katrina is expected to be "one of the most costly catastrophes in US history" and that the magnitude of potential losses may result in some insurers having their ratings lowered.
However, it added that even if there are rating downgrades, "the overall financial strength of the insurance industry will not be significantly weakened relative to year end 2004".
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
