All catastrophe risk articles
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Verisk estimates Beryl US insured losses in $2-3bn range
The cat modeler’s estimate for Hurricane Beryl is based on industry insured losses to onshore property from wind.
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Cyclone Gabrielle costs NZ insurers $1.5 billion
Catastrophes represent ”one of the most challenging periods for the insurance industry since the Canterbury earthquake sequence” - PERILS
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DWIC 2023: Middle East facing unique catastrophe challenge
Gas and oil activity linked to increased earthquake risk across the region
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‘Be part of climate conversation,’ DWIC 2023 delegates urged
With COP28 heading to the city in November, this year’s DWIC opened with a rallying cry for the industry to focus on the climate
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Ariel Re sponsors third cat bond with carbon offset feature
Titania Re III provides $125m of protection for named storms and earthquakes in the US and Canada
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Report tackles climate modelling uncertainty
Regulators have different approaches, resulting in a lack of consistency and hindering re/insurers efforts
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Total Turkey quake claims will exceed $5 billion - RMS
These loss estimates reflect the impact of the earthquakes in Turkey only; losses in Syria are not included
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KCC pegs Turkey quake claims at $2.4 billion
Total economic property losses from the M7.8 and M7.5 earthquakes are expected to be close to $20 billion
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Cat bond outlook bullish as hard market continues
ILS instruments have a “greater role to play” as reinsurers restrict catastrophe coverage
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RMS: Turkey earthquake largest in 84 years
Tragedy is a reminder that resilience is the main defense against such powerful seismic events
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Global nat cat losses surpassed $313 billion in 2022 - Aon
$132 billion was covered by insurance, revealing a 58% ‘protection gap’; Hurricane Ian was the most costly event of the year
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Aon and top reinsurers launch Open Exposure Data Standard
Initial testing on reinsurance placement data for Japan, Australia and China has proved successful
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MS Amlin APAC renews Phoenix Re sidecar
Secures $45m of additional collateralised capacity after investors show support for ’diversifying region and perils’
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Reinsurers’ underwriting margins to expand in 2023
Fitch believes some property catastrophe risks could become uninsurable as industry capital shrinks by 15%
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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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2023 could mark return to cash-flow underwriting
US commercial insurance pricing rose by an average of 5.7% in 2022, but there rates are beginning to moderate
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RSA launches low-carbon underwriting policy
Insurer has committed to achieving an underwriting portfolio for energy production that is over 75% low carbon by 2030
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Egypt moots catastrophe pool to build climate resilience
Ahead of COP27, insurance industry experts gathered to discuss innovative approaches to transferring catastrophic risk
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Greenlight Re reports Q3 net loss of $18.9m
Cites the combined impact of natural catastrophes, continued inflation and rising interest rates
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Baden Baden: Trapped capital will further dent European capacity - Munich Re
Hurricane Ian will exacerbate Europe’s reinsurance supply and demand imbalance, further driving up rates