Munich Re, the world’s biggest reinsurer, reported a bigger-than-expected drop in fourth-quarter earnings as claims from natural disasters rose while prices continue to fall. Net income declined to about 500 million euros ($530 million) from about 700 million euros a …
The Florida Office of Insurance Regulation announced that the Federal Emergency Management Agency (FEMA) has granted another extension giving National Flood Insurance Program (NFIP) policyholders in Florida an additional 60 days to file a complete, signed, and sworn proof of …
North Carolina has been officially awarded nearly $200 million from the federal government for Hurricane Matthew relief that Congress approved last month in a larger spending agreement. Gov. Roy Cooper’s office says the $198 million grant was awarded last week. …
The challenging operating environment confronting reinsurers has led to some price stabilization at the Jan. 1, 2017 renewals, as they face the reality of deteriorating results and margin compression, according to JLT Re in a newly published report. Twelve months …
It is fair to say 2016 was the year of the catastrophe in the Southeast. Tornadoes, drought, floods, hurricanes, and wildfires impacted virtually every state in the region. For the insurance industry, these events made for a very busy year …
Officials estimate over 500 oceanfront homes remain at risk months of Hurricane Matthew swept past northeast Florida’s coastline. According to the St. Augustine Record, St. Johns County officials say all 42 miles of county beaches suffered erosion from the Category …
The pastor of a Florida church whose steeple was toppled by Hurricane Matthew says it’s painful to see the storm’s damage linger. The Daytona Beach News-Journal reports that the 25-foot steeple remains where it fell next to Historic New Bethel …
Insurers and reinsurers continue to look for organic growth where they can find it – sometimes from emerging risks and sometimes from emerging markets. As always, the keys to success are market knowledge and patience. Providing a heads-up for such …
More than 10,000 people died as a result of natural and man-made disasters during 2016, with financial losses totaling at least $158 billion, Swiss Re said on Thursday. At an estimated $49 billion, insured losses rose by nearly a third …
CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a payout of US$1.1 million to the government of Nicaragua as a result of damages from Hurricane Otto. Damages triggered a CCRIF payment on the country’s tropical cyclone policy, which …
