TRV - S&P Global expects Russia-Ukraine insurance losses to hit $35B - Reuters

S&P Global is expecting losses in the specialty insurance market of $16B-35B due to Russia's invasion of Ukraine, Reuters reported Thursday, citing a report. Specifically, aviation insurance losses could reach $6B-15B, with other specialty lines such as cyber, political risk and marine war insurance likely to be affected as well, Reuters noted, citing the ratings agency. "We believe it may take many years to settle the ultimate losses incurred by aircraft leasing companies, insurers, and reinsurers," S&P Global highlighted. Furthermore, the top 21 global reinsurers rated by S&P Global will likely suffer around half of the total losses. This comes in addition to large natural catastrophe losses already incurred this year.  For company-specific news, aircraft lessor AerCap (AER) on Thursday submitted a $3.5B insurance claim for 100+ jets stuck in Russia. Property and casualty insurers: American International Group (AIG), Aflac (AFL), Trisura (OTCPK:TRRSF), Travelers Companies (TRV), Chubb (CB), Allstate (ALL),

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S&P Global expects Russia-Ukraine insurance losses to hit $35B - Reuters