Swiss Re estimates it will pay claims of approximately $1.0 billion for natural catastrophes booked in the fourth quarter of 2018, with the largest generated from California wildfires and Hurricane Michael. These natural disaster claims will mainly affect its Reinsurance …
Indonesia was rattled by more than 11,500 earthquakes last year, almost double the annual average of the past decade, according to the nation’s meteorological agency. The archipelago was hit by 11,557 temblors in 2018, with 297 of them packing a …
The overall impact of catastrophe losses on property rates was muted at the Jan. 1, 2019 reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy and the amount of …
Arch Capital Group Ltd. reported an estimated range of fourth quarter pre-tax losses of $110 million to $130 million from global natural catastrophes, including Hurricane Michael and California wildfires. These estimates are net of reinsurance recoveries and reinstatement premiums, said …
Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to US$595 billion from $605 billion in 2017, remaining resilient in the face of insured natural catastrophe losses of $230 billion over the two-year period, …
The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last year’s natural disasters pointed to “clear …
The final estimate of insured property losses from Europe’s Extratropical Cyclone Burglind, also known as Eleanor, have risen to €756 million ($862.1 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. PERILS’ fourth and final …
Reinsurance placements at Jan. 1, 2019 highlight a pricing gap between accounts with peak peril exposures, or poor loss records, and the rest, with many reinsurers placing emphasis on the quality of client counterparties, according to the latest 1st View …
JLT Re’s global property-catastrophe reinsurance index fell 1.2 percent in Jan. 1 policy renewals, the broker said on Wednesday, dashing the industry’s hopes of higher reinsurance premiums after a second straight year of big losses. Reinsurance prices, chiefly set in …
Tropical Storm Usman, which entered the Philippines on Christmas Day, emerged as the deadliest weather disaster for the country this year following Typhoon Mangkhut in September. Usman, a slow-moving storm with winds of up to 55 kilometers (34 miles) an …
