Reinsurance News
catastrophe
U.S. weather & Chile fires lead January Catastrophe losses: Aon Benfield
8th February 2017
U.S. severe weather and Chile wildfires have led January’s catastrophe loss events, with U.S. weather losses exceeding $1 billion and Chile following with $890 million in losses after its worst wildfire event in modern history. Aon Benfield’s monthly Global Catastrophe report has released figures for January, revealing a month ... Read the full article
Charles Taylor launches catastrophe deductible scheme for LatAm SMEs
7th February 2017
Insurance service provider Charles Taylor has announced the launch of an innovative Insurance & Asset Protection Program for Latin American Small and Middle Sized Enterprises (SMEs), designed to help cover catastrophe deductibles. The programme offers SME’s immediate insurance payment for deductibles, the option of building up US Dollar reserves to protect ... Read the full article
Normalised catastrophe burden expected for reinsurers in Q4: Deutsche Bank
26th January 2017
European reinsurers' fourth-quarter 2016 natural catastrophe budgets are expected to be used or "slightly exceeded" in response to a more normalised loss experience during the period, according to analysts at Deutsche Bank. While far less damaging and costly than initially expected the impact of hurricane Matthew, combined with the Kaikoura, ... Read the full article
Suncorp exceeds catastrophe budget again
23rd January 2017
Suncorp Group, the Australian and New Zealand general insurer, has exceeded its catastrophe loss budget in the second-half of 2016, repeating a trend that has dogged the insurer since 2013. The insurer reports a number of major claims in H2 2016, including the Kaikoura, New Zealand earthquake which it has set ... Read the full article
Argo puts Q4 2016 catastrophes losses at $20m – $25m
18th January 2017
Specialty insurance and reinsurance underwriting firm Argo Group International Holdings, Ltd. has estimated its fourth-quarter 2016 pre-tax catastrophe losses at $20 million to $25 million. The preliminary estimate, released before the fourth-quarter results season begins in the coming weeks, is pre-tax and net of reinsurance and reinstatement premiums. Argo Group explained that ... Read the full article
A third of total catastrophe losses in 2016 from flooding: Aon Benfield
17th January 2017
Reinsurance broker Aon Benfield named flooding as 2016’s top risk in its 2016 Annual Global Climate and Catastrophe Report released today. 2016 was the fourth consecutive year where flooding was the costliest global peril - at $62 billion it caused nearly one-third of the $210 billion global economic losses. After flooding, the reinsurance broker listed ... Read the full article
Cincinnati expects Q4 catastrophe losses of up to $85 million
13th January 2017
The Cincinnati Insurance Companies' property and casualty (P/C) division expects preliminary estimated catastrophe losses of up to $85 million for the fourth-quarter of 2016, according to a recent company announcement. Pre-tax catastrophe losses for the U.S. domiciled carrier, during the fourth-quarter of 2016, are expected to total between $75 million and $85 million. ... Read the full article
Mitsui Sumitomo Marine Management has licensed RMS Exposure Manager
4th January 2017
Commercial property and casualty insurer Mitsui Sumitomo Marine Management (MSMM) has licensed the RMS Exposure Manager, a move that aims to strengthen its risk accumulation management. One of the world’s leading catastrophe risk modelling and management firms, RMS, today announced that MSMM has licensed its Exposure Manager solution, the first solution ... Read the full article
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