Specialty insurer and reinsurer Brit has suggested that the COVID-19 pandemic could “significantly exceed” the $107 billion claims estimate predicted by Lloyd’s last year.
The comments contrast with the view of some other analysts, such as those at Berenberg, who recently reduced their industry loss estimate from $50-70 billion to $40-60 billion.
Notably, the Berenberg estimate is now lower than Swiss Re’s range of $50-80 billion and significantly below the $107 billion Lloyd’s figure, which makes Brit’s outlook particularly pessimistic.
