S&P outlines $16bn-$35bn range for ‘sizeable’ Russia-Ukraine specialty losses

S&P Global Ratings has released a scenario analysis that outlines a base case of $16bn rising to $35bn in potential specialty insurance losses from the Russia-Ukraine conflict, with global reinsurers’ estimated 50 percent share adding to a bumpy start to 2022 that means the sector is again unlikely to meet its cost of capital.