Moody's has maintained its stable outlook for the reinsurance sector.
Despite the 2005 hurricane season, the ratings agency has recognised the industry's efforts to recapitalise and reduce catastrophe exposures.
Moody's indicated most reinsurers have sound balance sheets and positive earnings potential.
After hurricanes Katrina, Rita and Wilma caused $40bn of reinsurance losses, rates rocketed and capacity has been squeezed. As a consequence, reinsurers, start-ups and sidecars have issued $27bn worth of equity, hybrid and debt securities.
Moody's also complimented the reinsurance sector on its improved risk management.
Earlier this week, Fitch Ratings issued an unchanged stable outlook for the reinsurance sector.
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