European insurers face no major threat from the turmoil ensuing from last week’s earthquake and tsunami in Japan, the European Union’s insurance watchdog said on Thursday. “From a European viewpoint, the impact is not severe, it is under control and …
Bermuda-based RenaissanceRe Holdings Ltd. announced its initial loss estimates for the 2011 Australian flooding as well as the February 2011 New Zealand earthquake. The Company said it currently expects the Australian flooding and the New Zealand earthquake will have a …
Swiss Re issued a statement which stressed that it is “committed to the Japanese insurance market and to supporting the country’s recovery from the devastating earthquake and tsunami which claimed many lives last week.” Chief Executive Stefan Lippe added: “We …
The Bermuda-based Arch Capital Group announced that the Company’s 2011 first quarter results will be negatively impacted by the New Zealand earthquake, which occurred in February 2011, in the range of $35 million to $70 million, net of reinsurance and …
Catastrophe modeling firm EQECAT has issued a bulletin describing the potential insured market losses and summarizing the various impacts of Japan’s insurance market with its specific inclusions and exclusions. Earthquake Shaking (EQ Shake) EQECAT identified this as the biggest exposure …
The unexpected nature of this week’s earthquake in Japan, plus the damage from the subsequent tsunami and fires, makes estimating insured losses from the disaster especially difficult, senior executives at two top catastrophe risk modeling firms said Saturday. About $24 …
Shares in European insurers fell steeply on Monday after analysts estimated over the weekend that the Japanese earthquake could cost the industry nearly $35 billion, making it one of the most expensive disasters ever. The Stoxx 600 European Insurance Share …
Shares in European insurers and reinsurers fell sharply in early trading on Friday after Japan was hit by a massive earthquake, one of the biggest ever recorded. The quake, which measured 8.9 on the Richter scale, hit off the northeastern …
Heavy damage claims from an earthquake, floods and a storm this year will put Munich Re’s full-year profit goal at risk if claims do not subside in the coming quarters. The world’s biggest reinsurer said it hoped to keep net …
A.M. Best’s London office announced that it “has begun to assess the financial impact of the Feb. 22, 2011 Christchurch earthquake on New Zealand’s non-life insurance industry, and it expects capital erosion will result in some local company ratings being …
