Risk modeling company AIR Worldwide tightened its estimate for insured losses from the Japan earthquake and tsunami, forecasting the insurance industry will have to pay out $20 billion to $30 billion in claims. That estimate, issued late Thursday night, compares …
Standard & Poor’s Ratings Services has conducted a detailed analysis of 15 Japanese P/C insurers, and has made several adjustments in its ratings following the earthquake and tsunami, which hit the country on March 11. S&P has revised the outlooks …
Insurer shares largely shrugged off the industry’s first round of damage estimates from this month’s earthquake in Japan, which may prove to be the world’s costliest disaster. Munich Re and Hannover Re, the world’s No.1 and No.3 reinsurers, penciled in …
Munich Re announced that it has estimated its claims burden from the earthquake and tsunami in Japan at around €1.5 billion [$2.128 billion], after retrocession and before tax. As a result Munich Re said its “profit target of around €2.4 …
Hannover Re announced that, “based on its analysis of individual treaties,” its loss expenditure from the Japan earthquake is expected to be around €250 million [$355 million] after retrocessions and before taxes. CEO Ulrich Wallin noted that the earthquake is …
The Japanese government on Wednesday estimated the direct damage from a deadly earthquake and tsunami that struck the country’s northeast this month at 16-25 trillion yen ($185-$308 billion), making it the world’s costliest natural disaster. It said the estimate covered …
A.M. Best Co. has placed under review with developing implications the debt rating of “bb+” on $200 million Series 2008-1 Class A principal at-risk variable rate notes due August 5, 2011, issued by Topiary Capital Limited, which is based in …
AXIS Capital Holdings Limited has issued a bulletin which estimates that the “total net impact of the New Zealand earthquake and loss events in Australia that have occurred to date in the first quarter of 2011 will be between $275-$315 …
Just over a week after the massive earthquake hit the sprawling Texas Instruments chip plant here, a gardener is reworking the Japanese garden in an inner courtyard of the office tower attached to the plant. The garden is a symbol …
The Nuclear Regulatory Commission will conduct a “comprehensive review” of the safety of all U.S. nuclear plants following what U.S. officials are calling the dangerous and complicated situation at Japan’s damaged Fukushima Dai-ichi reactors. President Barack Obama took the rare …
