September 29, 2017
RMS, the Newark, Calif.-based risk modeling and analytics firm, estimated that the insured loss from Hurricane Maria will be between US$15 billion and US$30 billion. This estimate represents the insured losses associated with wind, storm surge and inland flood damage …
September 29, 2017
Lloyd’s of London insurer Beazley said on Friday it reckoned that its losses from hurricanes Harvey, Irma and Maria in the Caribbean and southern United States and a series of earthquakes in Mexico would reduce its 2017 earnings by about …
September 28, 2017
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 …
September 27, 2017
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. …
September 26, 2017
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 …
September 22, 2017
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. …
September 21, 2017
Hurricane Maria continued its thunderous roll northward as forecasters struggled to pin down a trajectory. Whether the storm makes landfall again could be determined by a zombie. That’s what former Hurricane Jose will soon be in the meteorological vernacular, a …
September 19, 2017
Two weeks ago, Puerto Rico was spared a devastating hit when Hurricane Irma ripped up the Caribbean. This time, it may not be so lucky. The bankrupt island, already contending with the aftermath of a storm that left as much …
September 18, 2017
Hurricane Maria caused “mind boggling damage,” ripping off roofs across the small island of Dominica before pushing on toward the U.S. Virgin Islands and Puerto Rico on Tuesday as the second top-strength storm to lash the Caribbean this month. Maria …
September 18, 2017
A weakened Hurricane Jose could graze the Northeast as Hurricane Maria tears through the Caribbean, gaining strength and possibly heading toward the U.S. in a week. Jose will probably be downgraded to a tropical storm as it comes close to …