Hurricane Dorian, which battered the Bahamas early on Monday, could cause insurance industry losses of up to $25 billion, according to analysts at UBS. More here:
Strong winds batter Oceanhill Boulevard in Freeport, as Hurricane Dorian passes over Grand Bahama Island, Bahamas September 2, 2019 in this still image taken from a video by social media. Lou Carroll via REUTERS
Dorian, the second-strongest Atlantic storm on record, was forecast to pound the archipelago through the day, then move slowly toward the east U.S. coast, where authorities ordered more than a million people evacuated in Florida, South Carolina and Georgia. The analysts estimate about $70 billion of natural catastrophe losses for 2019 and added this could erode excess capital and raise prices.
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