Tokyo was pummeled by rain and winds as Mindulle became the first typhoon to make landfall near the metropolitan region in 11 years on Monday, bringing the risk of floods and landslides. The typhoon’s center was estimated to have passed …
Global insured losses from natural catastrophes and man-made disasters during the first half of 2016 reached US$31 billion, or 44 percent of total economic losses of US$71 billion, according to a report issued by Swiss Re’s sigma. The economic loss …
Most global reinsurers have been able to maintain underwriting discipline despite the ongoing soft market, but there is a danger that their profits could be hit if the current benign period of natural catastrophes returns to normal levels, according to …
China’s seasonal “Mei-Yu” rainfall in July led to the worst flooding since 1998, bringing total combined economic losses of an estimated US$33 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Affecting the Yangtze …
Tropical Storm Earl* will continue to weaken as it crosses Belize after coming ashore early Thursday with drenching rains and hurricane-strength winds, the U.S. National Hurricane Center said. Earl was 90 miles (145 kilometers) west of Belize City with top …
Tropical Storm Earl, forecast to grow into a hurricane, may just graze Mexico’s oil-rich Bay of Campeche as it heads west toward the Honduras Bay Islands before making landfall in Belize within the next 24 hours. Earl was 265 miles …
This year could be a tough one for U.S. property/casualty insurers as catastrophe losses, private passenger insurance woes and declining bond yields erode underwriting results and profitability, according to a report by S&P Global Market Intelligence. The firm’s 2016 U.S. …
Preliminary global economic losses reached US$98 billion during the first half of 2016, while global insured losses hit US$30 billion – their highest levels since 2011, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. These losses – economic …
The storms that hit Saskatchewan, Manitoba and Ontario in Canada on June 24 and 25 caused more than C$34 million ($25.9 million) in insured damage, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ).* Wind, flash floods and hail …
XL Group Plc, the insurer that expanded last year with the purchase of Catlin Group Ltd., said second-quarter catastrophe costs were probably about $240 million pretax, with wildfires in Alberta, Canada, responsible for about half the total. Flooding in Europe …
