This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased appetites” and a return to supply/demand balance. What a difference in tone from last year’s grueling January renewals. “In a marked change on …
The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an industry loss of US$5.8 billion, the largest ever cat loss for the Turkish insurance market, according to CRESTA, the Zurich …
Initial industry losses for extratropical windstorm Ciarán, also known as Emir, are estimated at €1.9 billion (US$2.1 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The storm affected France, Belgium, the United Kingdom, and …
Hundreds of thousands of British homes will miss out on flood protections in the next few years as spending has been affected by Brexit, inflation and the pandemic, according to the National Audit Office. In 2020, the Department for Environment, …
Industry insured losses due to wind from Winter Storm Ciarán (also named Emir by the Free University of Berlin) will range between €800 million and €1.3 billion ($855.2 million and $1.4 billion), with the majority of the losses expected in …
Storm Ciarán plowed through northwest Europe, tearing the roofs off some buildings, snarling transport networks and cutting power to more than a million people. The cyclone delivered punishing winds and heavy rainfall to an area spanning from the UK to …
Western Europe is bracing for the worst storm so far this season with hurricane-strength wind gusts and rain potentially disrupting travel and causing damage to buildings. Storm Ciaran will bring heavy rain and intense winds from Spain to France and …
