All natural catastrophe articles – Page 3
-
News
MS Amlin APAC renews Phoenix Re sidecar
Secures $45m of additional collateralised capacity after investors show support for ’diversifying region and perils’
-
News
Reinsurers’ underwriting margins to expand in 2023
Fitch believes some property catastrophe risks could become uninsurable as industry capital shrinks by 15%
-
News
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
-
News
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
-
News
KCC puts Winter Storm Elliott losses at $5.4 billion
Estimate includes the privately insured damage to residential, commercial, and industrial properties and vehicles
-
News
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
-
News
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
-
News
Lloyd’s participants should “lean into” hard market - Tiernan
Market has “headroom” to grow its cat appetite and syndicates with ’capacity, capability and expertise’ should take advantage
-
News
Hurricane Ian drives 2022 nat cat losses to $115 billion
Ian is the second-costliest insured loss ever on sigma records after Hurricane Katrina in 2005 - Swiss Re Institute
-
News
Mixed picture for global reinsurers’ YTD results
SCOR, Swiss Re and MS&AD experienced the most deterioration in combined ratios following Hurricane Ian - Gallagher Re
-
News
Florida buyers will struggle for capacity at 1/1 - Fitch
Rating agency predicts double-digit rate rises for property catastrophe cover driven by insured losses of c.$120 billion
-
News
S&P downgrades SCOR to A+ (stable)
Reinsurer is a “negative outlier relative to close peers” with financial results “below expectations”, states rating agency
-
News
Greenlight Re reports Q3 net loss of $18.9m
Cites the combined impact of natural catastrophes, continued inflation and rising interest rates
-
News
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
-
News
Baden Baden: Cedants must dramatically increase retentions
As reinsurance capacity retreats and inflation soars, insurers must be prepared to retain more risk - Swiss Re
-
News
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
-
News
Swiss Re pegs Ian losses at $1.3 billion
The reinsurer estimates the total insured market loss from Hurricane Ian at $50 billion to $65 billion
-
News
RIMS calls for long-term extension of NFIP
As Florida reels from Hurricane Ian, the US flood insurance program receives a brief reprieve
-
News
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
-
News
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