Bermuda-based AXIS Capital Holdings Limited announced that the net financial impact of the severe flooding in Thailand on the Company’s fourth quarter results is expected to be $48 million – net of reinsurance, taxes and reinstatement premiums. AXIS also updated …
Bermuda-based PartnerRe Ltd. announced that it “expects to record a charge of approximately $120 million, pre-tax and net of retrocession and reinstatement premiums, in its fourth quarter 2011 results related to the flooding in Thailand, which occurred in October and …
The XL Group gave preliminary net loss estimates related to the widespread floods in Thailand that reached their highest point during the quarter ended December 31, 2011, as ranging from approximately $135 million to $185 million, pretax and net of …
Reinsurance broker Guy Carpenter has examined the past year’s natural catastrophes, which it describes as “an unusually eventful year for the (re)insurance sector.” In addition to the ongoing financial crisis, which has produced recessions, or near recessions, in developed countries, …
The Bermuda-based Everest Re Group announced that it expects to incur net losses of between $100 million and $125 million, after reinstatement premiums and taxes, for claims arising from floods in Thailand. The bulletin said the range was “predicated on …
French reinsurer SCOR Group has estimated its losses from the floods in Thailand at €140 million [$185 million] net of retrocession and before tax. SCOR described the floods as a “major natural catastrophe, which have taken the lives of more …
The widespread floods in Thailand, which reached their highest point in October and November, “are the costliest natural catastrophe in the country’s history,” according to a bulletin from Munich Re. “The economic losses are huge, since key industries are concentrated …
Aon Benfield’s Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during November, concludes that insured losses in Thailand could top $10 billion, while floods in Europe will exceed $1 billion. The report, published by Impact …
Swiss Re has estimated its claims costs from severe flooding in Thailand at $600 million, after intense rainfall caused hundreds of deaths and floods affecting approximately 1500 industrial facilities. “The estimate is net of retrocession and before tax, said the …
The impact from Thailand floods on Asia’s production networks may last longer and be deeper than that from Japan’s March earthquake, tsunami and nuclear crisis, a senior Asian Development Bank official said on Tuesday. Iwan Azis, head of ADB’s Office …
