S&P Global sees Russia-Ukraine insurance losses of $16-35 billion

FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York
FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13, 2018. REUTERS/Brendan McDermid/File Photo

March 31, 2022

LONDON (Reuters) – S&P Global sees losses in the speciality insurance market of $16-35 billion from the Russia-Ukraine conflict, the ratings agency said on Thursday.

This includes possible aviation insurance losses totalling $6-15 billion, S&P said in a report.

Other speciality lines likely to be affected by the conflict include cyber, political risk and marine war insurance, S&P said.

(Reporting by Carolyn Cohn; editing by Huw Jones)