December 18, 2015
Swiss Re’s latest sigma report preliminarily estimates that total economic losses from natural catastrophes and man-made disasters will reach approximately $85 billion in 2015. Insured losses, however, were just $32 billion. In total, approximately 26,000 people lost their lives in …
November 30, 2015
Eight Lloyd’s syndicates are joining forces to develop new solutions to help developing economies tackle underinsurance and improve their resilience against the economic impact of natural catastrophes. Emerging economies across Latin America, Africa, and Asia currently contribute 40 percent to …
October 23, 2015
Spain’s insurance market has continued to show resilience, with companies focusing on profitability as the country’s economy showed further signs of recovery, according to a new report from A.M. Best, entitled – “Sticking to the Basics Ensures Resilience of the …
October 9, 2015
Typhoon Mujigae – also called Kabayan – made landfall in China’s Guangdong Province on October 4 with reported wind speeds up to 135 miles per hour (217 kilometers per hour) in some locations. Mujigae quickly moved from a Category 3 …
September 30, 2015
In an attempt to deploy excess capital, some major European insurers have developed overseas operations over the past several years but are now taking a more cautious approach, as not all overseas strategies have proven successful, according to a new …
July 28, 2015
Indian Prime Minister Narendra Modi is planning to give farmers comprehensive insurance coverage as he looks to win state elections in largely rural areas. The government will start the new insurance program in the winter crop running from October to …
April 27, 2015
The earthquake that struck Nepal caused about $2 billion in economic losses in the country, and only a fraction of the cost will be incurred by insurers, according to Kinetic Analysis Corp. Damage in India could cost an additional $800 …
August 14, 2014
American International Group Inc. has waited 13 years in India to raise its stake in a local venture from a maximum allowed 26 percent. That wait is about to get longer. Opposition lawmakers, during the current session of parliament scheduled …
July 16, 2014
Catastrophe modeling firm AIR Worldwide reported that Typhoon Rammasun made landfall in the Philippine province of Sorsogon with sustained winds of 157 km/h (98 mph) on Tuesday, July 15, in late afternoon local time. The storm is heading for Manila. …
December 18, 2013
According to preliminary estimates from Swiss Re’s latest sigma report, insured losses from natural catastrophes and man-made disasters in 2013 are estimated to be around $44 billion, down from $81 billion in 2012. Insured losses from natural catastrophes are at …