Global insured losses from natural catastrophes were US$144 billion in 2017, the highest-ever recorded in a single year, according to the latest sigma study from the Swiss Re Institute. The biggest losses came from Hurricanes Harvey, Irma and Maria (HIM), …
Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …
This week is the anniversary of Superstorm Sandy, which developed in late October and moved over the East Coast starting on Oct. 29, 2012, causing more than $70 billion in damage and killing 280 people. To mark that anniversary, Climate …
ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, according to Willis Towers Watson Securities. None of the third …
Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third quarter. For the industry overall, Zurich-based Swiss …
Zurich Insurance Group estimates that Hurricanes Harvey, Irma and Maria will aggregate claims in the third quarter of approximately US$700 million, net of reinsurance and before tax. After tax, the losses are expected to be around US$620 million, the company …
Argo Group International Holdings Ltd. and Aspen Insurance Holdings Ltd. have issued their third quarter catastrophe loss estimates, primarily related to Hurricanes Harvey, Irma and Maria as well as the earthquakes in Mexico City. Argo, the Bermuda-based specialty insurance and …
Irish authorities warned some of the worst weather conditions to hit the country in 50 years will endanger lives, as Storm Ophelia’s remnants batter the coast with “extreme” conditions. Met Eireann, the nation’s weather service, extended its most severe warning …
Ophelia strengthened into a Category 2 hurricane forecast to strike Ireland, where one of the nation’s strongest storms in half a century threatens everything from farms to a golf course owned by the family of U.S. President Donald Trump. Ophelia’s …
S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit ratings on Lloyd’s. With estimated net losses of £3.3 billion ($4.4 billion) …
