All Catastrophe losses articles
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NewsHannover Re expects 2022 net income of €1.4 billion
The reinsurer has increased its net major-loss budget for 2023 to €1.725 billion
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Hesitant capital remains sidelined despite rating improvements - AM best
High levels of nat cat losses, coupled with rising inflation and geopolitical concerns, is denting appetite for property cat
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“Fingerprints of climate change” evident in 2022 nat cats
2022 is the fifth year since 2017 in which insurance losses have crossed the $100 billion threshold - Gallagher Re
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2022 nat cats set new records with $120 billion in claims
Hurricane Ian accounted for half of insured losses, making it the second most costly storm in history - Munich Re
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Eastern Australia floods top 2022 ex-US cat losses for insurers
The floods cost insurers $4.7 billion, while European winter storms generated $4.2 billion in claims - CRESTA
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KCC puts Winter Storm Elliott losses at $5.4 billion
Estimate includes the privately insured damage to residential, commercial, and industrial properties and vehicles
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Climate change justifies 50% property cat rate hikes - EY
Cat events have cost UK re/insurers more than double over the past six years than the preceding decade
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Fitch follows S&P in SCOR downgrade
Downgrade reflects the reinsurer’s continued weak financial performance, which “has worsened in 2022”
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Inflation and nat cats are creating ‘perfect storm’ at 1/1
A sharp reduction in available nat cat reinsurance capacity will make for a challenging renewal season - Clyde & Co
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Rising interest rates a “silver lining” for insurers
Despite a looming recession, insurance premium growth will rebound in 2024 as interest rates rise - sigma
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Baden Baden: Cedants must dramatically increase retentions
As reinsurance capacity retreats and inflation soars, insurers must be prepared to retain more risk - Swiss Re
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Gallagher Re: Ian was Southwest Florida’s ‘Andrew’
Hurricane is set to be one of the costliest US catastrophe events on record; despite building code ‘success stories’
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Nat cats cost insurers $99 billion so far in 2022
Economic losses through the end of Q3 2022 are estimated at $227 billion, representing a protection gap of 56 percent
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Catastrophic floods hit three Australian states
More extreme weather is on its way with widespread rain and storms forecast across eastern Australia later this week
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Hurricane Ian to cost insurers up to $74 billion - RMS
Estimate reflects insured wind, storm surge, and inland flood impacts for the US with additional NFIP losses up to $10 billion
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RIMS calls for long-term extension of NFIP
As Florida reels from Hurricane Ian, the US flood insurance program receives a brief reprieve
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Total economic damage from Ian to breach $100 billion, says KCC
Cat modeller predicts high proportion of litigated claims due to ‘tremendous amount’ of coastal flooding
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Inflation a major wildcard for Florida recovery - RMS
’Wind versus water’ claims disputes to arise post Ian, with full recovery likely to “take years”
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Verisk pegs Ian losses at $42 to $57 billion
Ian brought significant storm surge damage, however, the flood insurance take-up on residential risks in Florida are low
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S&P predicts Hurricane Ian losses of up to $40 billion
Citizens Property Insurance Corporation has estimated it expects losses of about $3.8 billion
