Swiss Re reported a group net loss of $248 million during the first quarter, as a result of headwinds such as the war in Ukraine, higher-than-expected natural catastrophes and the ongoing COVID-19 pandemic. This loss compares with net income of …
Initial insurance losses for the Eastern Australia floods are estimated at A$3.99 billion (US$2.97 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The PERILS loss estimate for the floods, which inundated Eastern Australia during …
Preliminary economic losses from natural hazards billion during the first quarter of 2022 totaled $32, of which less than 50% (or $14 billion), was covered by public and private insurers, according to a report published by Aon. Although the first …
South Africa declared floods that killed more than 300 people in the eastern KwaZulu-Natal province a disaster, enabling the government to free up funds to assist with reconstruction in the area. The heaviest rainfall in at least six decades last …
At least 25 people were killed and several more missing after Typhoon Megi triggered landslides and flooded many areas in central and southern Philippines. Twenty-two persons died in mudslides in Baybay City in Leyte province, while at least six more …
The majority of gross losses from recent devastating flooding in Australia likely will be borne by reinsurers with limited impact on primary insurers’ balance sheets, according to an AM Best report. The flooding brought widespread damage to regions of New …
Heavy rains deluged Australia’s east coast on Wednesday, submerging entire towns, while thousands of people fled their homes for the second time within weeks after fast-moving flood waters burst river banks and broke over levees. Several towns in northern New …
PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has disclosed its fourth and final industry loss estimate for the New South Wales and Queensland floods, which occurred during the period of March 18-24, 2021. The final estimate …
The powerful earthquake that jolted Japan’s northeast coast last week is expected to cause insured property losses between $2 billion and $4 billion, modeling firm Verisk said on Thursday. About $400 million to $820 million of the losses will stem …
Japanese turned off neon signs, dimmed their lights and dialed down thermostats on Tuesday after the government issued an urgent call to save energy to avoid blackouts after an earthquake last week caused a serious power shortage. Up to 3 …
