May 12, 2017
A big change in the Ogden rate in the UK and higher natural catastrophe losses are dampening a wide range of Bermuda-based insurer and reinsurer results in the 2017 first quarter, Standard & Poor’s said in a new report. “Unfavorable …
May 10, 2017
Severe weather in the U.S. remains the largest contributor to global insurance losses in 2017 after April continued the trend with multi-billion dollar losses for public and private insurers, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. “Much …
May 9, 2017
The initial estimate of insured property market losses for Cyclone Debbie is A$1.12 billion (US$825.7 million), according to PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data. Tropical Cyclone Debbie caused significant wind and flood damage across the Australian …
May 4, 2017
Swiss Re reported net income of US$656 million during the first quarter of 2017, a 45 percent drop from $1.2 billion reported in the same period last year. Swiss Re’s Q1 result was hammered by expected claims from natural catastrophe …
April 27, 2017
A windstorm that hit eastern Newfoundland on March 11, 2017 has resulted in almost C$45 million (US$32.5 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting statistics from Catastrophe Indices and Quantification Inc. (CatIQ). Wind gusts …
April 19, 2017
A windstorm that hit parts of southern Ontario on March 8, 2017 has caused almost C$100 million (US$73.4 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted a report from Catastrophe Indices and Quantification Inc. …
April 13, 2017
The initial estimate of insured property market losses for extratropical cyclone Zeus, which mainly hit France on March 6-7, is €192 million (US$200 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. Low pressure system …
April 13, 2017
Cyclone Debbie cost Swiss Re an estimated $350 million and the insurance industry roughly $1.3 billion, the world’s second-biggest reinsurer said on Thursday, an unusually high loss that could see reinsurance prices rise in Australia. Cyclone Debbie, a Category 4 …
April 7, 2017
Four severe weather outbreaks in the U.S. throughout March led to extensive damage in the central and eastern parts of the country, costing the insurance industry in excess of US$2.0 billion, according to a report published by Impact Forecasting, Aon …
April 3, 2017
Damage to rail lines in cyclone-hit northeast Australia is set to disrupt exports of the steel-making material from the world’s largest coking coal region, underpinning prices and raising the prospect of major producers declaring force majeure. The extent of the …