Hedge funds bet on reinsurance recovery

Sat, 11/18/2017 - 18:16
by Maiya Keidan, Carolyn Cohn, Lawrence Delevingne of Reuters

LONDON (Reuters) - Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. 

Hurricanes in the United States and the Caribbean in August and September are expected to cause at least $100 billion in insured losses, reinsurers and risk-modelling agencies have said. This far exceeds losses of about $74 billion caused by Hurricane Katrina, which hit New Orleans in 2005.

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