Reinsurance News
CoreLogic
CoreLogic partners with AXA Climate on Hail Protection product
11th January 2022
Catastrophe risk modeller CoreLogic has been selected to expand the Hail Protection product designed by AXA Climate, the specialist parametric risk transfer division of AXA. The product has been designed to help businesses recover from financial losses such as property damage or business interruption following a hail event. After the launch of ... Read the full article
Midwest tornado reconstruction value estimated at $3.7bn: CoreLogic
15th December 2021
Analysts at CoreLogic have estimated that the reconstruction value of residential buildings that were potentially destroyed in states hit by the recent series of tornados is $3.67 billion, with insured losses likely to exceed $1 billion. Last Friday, devastating tornadoes broke out across the states of Arkansas, Illinois, Kentucky, Mississippi, Missouri, ... Read the full article
CoreLogic hires Next Gear Solutions founder to lead combined claims
7th October 2021
Catastrophe risk modeller CoreLogic has appointed Garret Gray, Founder and CEO of recently acquired Next Gear Solutions, to lead the company’s combined claims operations. CoreLogic completed the acquisition of Next Gear Solutions, a market leader in digital workflow platforms and solutions for the property restoration industry, in September 2021. The transaction brought ... Read the full article
Idaho & Wyoming face disproportionate wildfire costs: CoreLogic
30th September 2021
A new report by catastrophe risk modeller CoreLogic has identified Wyoming and Idaho as the states most at risk for a prolonged wildfire recovery. While California traditionally tops the list each year for wildfire risk simply because it’s the most populous state, CoreLogic’s approach for this year’s report used different metrics ... Read the full article
CoreLogic updates Hurricane Ida loss estimate for Northeast region to $16-24bn
9th September 2021
Catastrophe risk modeller CoreLogic has updated its loss estimate for hurricane Ida specifically for the U.S. Northeast, from $16 billion to $24 billion in insured and uninsured inland flood losses to residential and commercial properties. Total insured flood loss for residential and commercial properties in the Northeast is estimated to be ... Read the full article
Hurricane Ida insured loss could reach $21 billion: CoreLogic
2nd September 2021
Analysis by catastrophe risk modeller CoreLogic estimates an overall loss from Hurricane Ida of between $27 billion and $40 billion, of which up to $21 billion could be covered by re/insurance protection. The economic loss range from CoreLogic is for losses from wind, storm surge and inland flooding damages to residential ... Read the full article
CoreLogic expands offering with ClosingCorp acquisition
1st July 2021
Catastrophe risk modeller CoreLogic has announced an agreement to acquire all outstanding shares of San Diego headquartered ClosingCorp, a valued partner in the housing ecosystem. ClosingCorp owns and operates a leading source of intelligence for closing costs and service providers in the U.S. residential real estate industry. The company provides unique intelligence ... Read the full article
Corelogic extends partnership with Xceedance
29th June 2021
Catastrophe risk modeller CoreLogic has announced an extended collaboration with insurance consulting firm Xceedance designed to provide new access to its complete suite of 180+ catastrophe models. The extended agreement now allows Xceedance to provide transactional based services utilising CoreLogic’s RQE platform as well as models available on the Oasis LMF ... Read the full article
Stone Point, Insight complete $5.9bn Corelogic acquisition
4th June 2021
The $5.9 billion acquisition of catastrophe risk modeller CoreLogic by Stone Point Capital and Insight Partners has now been completed, according to an official statement. Shareholders voted to approve the acquisition back in April after a long drawn out saga involving the cat modeller and various other parties, including Stone ... Read the full article
Hurricane season threatens 8 million US homes with storm surge: CoreLogic
2nd June 2021
Catastrophe risk modeller CoreLogic has estimated that nearly 8 million US homes with more than $1.9 trillion in combined reconstruction value (RCV) are at risk of storm surge during the 2021 hurricane season. The analysis includes both single and multifamily residences along the Gulf and Atlantic coasts, and also shows that more ... Read the full article
CoreLogic’s Q1 operating income rises to $85mn
10th May 2021
Catastrophe risk modeller CoreLogic has announced a first quarter operating income of $85 million, up by $30 million from the prior year quarter. Meanwhile, revenues of $423 million represent a 20% increase over the prior year. Net income from continuing operations was reported at $55 million, up by $31 million. “Capitalizing on momentum ... Read the full article
CoreLogic shareholders approve acquisition by Stone Point & Insight
29th April 2021
Property information and analytics provider CoreLogic has announced the confirmation of its acquisition by private equity firms Stone Point Capital and Insight Partners for $80 per share in cash. Shareholders voted to approve the acquisition this week in a move that will hopefully close the book on what has been a ... Read the full article
CoreLogic asks CoStar to further increase takeover bid
4th March 2021
Property information and analytics provider CoreLogic has written to CoStar asking the company to increase the value of its acquisition offer even further, after confirming earlier this week that CoStar had upped its bid. CoStar has offered to pay CoreLogic shareholders $6.00 per share in cash, in addition to its ... Read the full article
CoreLogic income grows on strong Q4 result
2nd March 2021
Property information and analytics provider CoreLogic has reported that its revenue increased by 14% to $1.642 billion for 2020, driven by housing market activity and share gains, operating leverage and cost savings. And revenues were up approximately 20% when normalizing for $69 million of revenues attributable to non-core default technology units ... Read the full article
CoStar ups takeover bid for CoreLogic
2nd March 2021
Property information and analytics provider CoreLogic has confirmed that CoStar has increased the terms its takeover bid, after putting forward an unsolicited bid last month. CoStar has now offered to pay CoreLogic shareholders $6.00 per share in cash, in addition to its previous offer of 0.1019 shares of CoStar Group ... Read the full article
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