The loss, announced today by Lloyd’s of London, shows just how severe the second costliest year for catastrophes on record for the insurance industry actually was. Lloyd’s announced a loss of £516 million ($822 million) for 2011 – a large, …
Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer points …
Europe’s largest insurer, Germany’s Allianz SE, posed the following question: “How does climate change affect the business model of a large insurance company?” In order to find the answers Allianz announced that it’s now part of a “unique consortium including …
The Insurance Council of Australia has declared widespread areas of New South Wales and Victoria a formal catastrophe zone. The ICA said the declaration covers the NSW Riverina, NSW Central West and northern Victoria, where a number of communities have …
Thai Reinsurance Pcl expects to post a net loss for a second year in 2012 as the country’s leading reinsurer is hit by higher provisions from flooding last year that have pushed up insurance premiums for natural disasters, a top …
The Bermuda-based Everest Re Group announced that it expects to incur net catastrophe losses of approximately $245 million, after reinstatement premiums and taxes, for the quarter. “This loss provision includes an estimate for the floods in Thailand, with losses now …
Bermuda-based Endurance Specialty Holdings Ltd announced that its initial loss estimate related to the floods that occurred in Thailand in the fourth quarter of 2011 is $76.5 million. The announcement said they “predominantly impacted Endurance’s property reinsurance book of business.” …
Last year’s flooding in Thailand is shaping up to be one of the worst natural disasters in human history, with insured losses alone estimated at more than $15 billion. Following is a list of expected losses reported by insurance and …
