The property insurance market’s loss for tropical cyclone Debbie has risen to A$1.7 billion (US$1.34 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This is the and third loss estimate PERILS has issued for …
Ratings agency A.M. Best said it expects a significant share of the loss from Hurricane Maria to pass on to the global reinsurers evenly. The agency said it expects the loss would remain within the overall risk tolerance of most …
Mexican government officials are still tallying up the economic losses of the magnitude 7.1 earthquake that caused widespread damage in the capital, but for the manager of a downtown restaurant it is already all too clear. Sitting in the entrance …
Ratings downgrades for global insurers and reinsurers are becoming more probable as they face more than $100 billion in 2017 catastrophe losses, a figure that threatens to weaken their capital reserves, Fitch Ratings Inc. said in a report on Tuesday. …
Industry insured losses for Hurricane Maria in the Caribbean will be between US$40 billion and US$85 billion, according to catastrophe modeling firm AIR Worldwide. Puerto Rico alone accounts for more than 85 percent of the loss, said Boston-based AIR, which …
A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global finance. …
Global reinsurers will likely face exposures from a massive magnitude 7.1 earthquake that struck Mexico City on Sept. 19, Morgan Stanley said in a new research note. This earthquake led to dozens of deaths and the toppling of a number …
German insurer Talanx warned it may miss its profit target for 2017 as its reinsurer, Hannover Re, is being hit by major claims from a series of hurricanes and an earthquake in Mexico. Reinsurers face big losses from Hurricanes Harvey …
Cayman Islands-based CCRIF (formerly the Caribbean Catastrophe Risk Insurance Facility) will make payments totaling US$29.6 million to six Caribbean nations recovering from Hurricane Irma. CCRIF’s parametric tropical cyclone insurance policies will pay $6.8 million to Antigua & Barbuda; $6.5 million …
At least 61 people died when the most powerful earthquake to hit Mexico in over eight decades tore through buildings and forced mass evacuations in the poor southern states of Oaxaca and Chiapas, triggering alerts as far away as Southeast …
