Fitch Ratings has said that while it expects Hurricane Rita to represent a material loss to the insurance industry and create further strain on insurers' claims-adjusting resources, it does not expect any significant insurer insolvencies as a result of the storm.
Fitch also said that it does not expect to change a large number of insurance company ratings as a result of Hurricane Rita losses.
In a statement, Fitch said that if insured losses from hurricanes this year come in at the high end of the range of estimates, the 2005 hurricane season has already cost insurers as much as $70bn, representing around 17.5% of the US insurance industry's statutory surplus, or approximately two full years of statutory earnings.
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.
