All natural catastrophe articles – Page 4
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S&P downgrades SCOR to A+ (stable)
Reinsurer is a “negative outlier relative to close peers” with financial results “below expectations”, states rating agency
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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
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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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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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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
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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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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
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Hurricane Ian to bring ‘near record’ insurance losses
Ian will leave insurers with their largest loss since Hurricanes Harvey, Irma and Maria in 2017, says GlobalData
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Hurricane Ian bears down on Cape Coral, Fort Myers
The storm is on track to intensify to an intense category 4 hurricane before making landfall later today
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Hurricane Ian takes aim at Florida
Current forecasts show the storm skirting the west coast of Cuba before intensifying as it crosses the Gulf of Mexico
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CCR to sell €200m stake in CCR Re
French reinsurance mutual needs to grow and become autonomous in the face of growing nat cat losses, says Board
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Reinsurers risk misunderstanding secondary perils due to cat models
PWC predicts a ‘pretty expensive year’ as secondary perils drive up losses ahead of H2’s Florida hurricane season
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AXA launches forest restoration program
Research from the program will be shared at a European level, to strengthen biodiversity and climate resilience
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Ariel Re: It’s time to stop selling Ferraris at Ford pricing
Reinsurer’s Joel Willens expects to see a further reduction in appetite for property cat going into the renewal season
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Swiss Re takes drastic action to cut RVS carbon footprint
There is a very obvious impact from climate change on secondary perils after a summer of extremes
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Reinsurance pricing correction ‘unavoidable’ - Hannover Re
Large loss trend, pandemic and rising inflation require further improvements in prices and conditions, insists reinsurer
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PERILS adds European flood to its repertoire
Demand is growing for industry loss triggers as cedants seek alternatives amid the ongoing hard market - CEO Hitz
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Major reinsurance market correction ahead - SCOR
The challenging macro-economic landscape will be a net positive for both risk carriers and “volatility takers”