Reinsurance News


News on catastrophe and man-made losses that impact or could impact the reinsurance industry and reinsurers around the globe.

COVID-19 non-life insured loss in Germany seen at up to €1.75bn: E+S Rück

20th October 2020

The impact of the ongoing COVID-19 pandemic is expected to result in a non-life re/insurance market loss of between €1.25 billion to €1.75 billion (USD 1.47bn - USD 2.1bn) in Germany, driven mostly by nationwide business closures, according to executives at E+S Rückversicherung AG, the Hannover Re subsidiary responsible for ... Read the full article

Flooding in French Alps to drive €210mn insured loss

20th October 2020

According to a joint communication from CCR and the French Insurance Federation (FFA), recent flooding in the south east French Alps could cause up to €210 million in insured losses. The industry should expect to record a total of 14,000 claims related to the event, the statement said, of which 8,250 ... Read the full article

Kemper’s Q3 results to include cat losses of up to $68mn

20th October 2020

Kemper Corporation has announced that it anticipates its third quarter 2020 results will include pre-tax catastrophe losses ranging from $62 million to $68 million, primarily related to wildfire and hurricane events. The company notes that it does not expect ... Read the full article

Cat losses dent FedNat’s Q3 net income; Delta to trigger agg reinsurance

19th October 2020

FedNat Holding Company estimates that catastrophe weather losses incurred in the third-quarter of 2020 will reduce its net income for the period by approximately $29 million, primarily driven by the impacts of Hurricanes Laura and Sally. The $29 million total is after-tax and net of all recoveries, including reinsurance. Alongside losses ... Read the full article

PERILS estimates Queensland April hail loss at AU $604mn

19th October 2020

Catastrophe insurance data provider PERILS has estimated that the April 2020 Central Queensland hailstorms will cost the re/insurance industry approximately AU $604 million (US $430 million). Six months on from the event, this is PERILS’ first estimate, given that insured losses were not initially expected to exceed the firm’s loss reporting ... Read the full article

Heritage reports catastrophe losses for Q3

16th October 2020

Property and casualty insurance holding company, Heritage Insurance Holdings, Inc. has reported an estimate of its catastrophe and weather losses for the third-quarter of 2020. The company expects to incur approximately $24.5 million of net current accident quarter catastrophe losses in third quarter 2020, primarily from Hurricanes Isaias and Sally. Additionally, Heritage ... Read the full article

Assurant’s housing segment to shoulder $110m Q3 cat losses

16th October 2020

US specialty insurance group Assurant expects to record roughly $110 million pre-tax, or $87 million after-tax, of catastrophes losses in its global housing segment for third quarter 2020. Nearly half of the losses were related to hurricane Laura, with the balance primarily related to claims from Sally and Isaias and the ... Read the full article

RMS: Hurricane Delta total onshore insured losses could reach $4bn

16th October 2020

Hurricane Delta, which made landfall near Creole, Louisiana, on Friday, October 9th as a mid-Category 2 storm, is expected to result in total onshore U.S. insured losses of between $2 billion and $3.5 billion, according to catastrophe risk modeller RMS. This estimate from RMS includes wind, storm surge, and inland flood ... Read the full article

NSG estimates insured catastrophe losses from Sally and Delta

16th October 2020

The National Security Group (NSG) has released preliminary estimates of insured catastrophe losses from Hurricanes Sally and Delta. This comes along with updated estimates of catastrophe losses from Hurricane Laura incurred by property and casualty subsidiary National Security Fire & Casualty. When Hurricane Sally made landfall on Gulf shores, Alabama in ... Read the full article

Cincinnati estimates $266mn Q3 catastrophe hit

15th October 2020

Primary insurer Cincinnati’s third-quarter results are expected to include pretax catastrophe losses of approximately $266 million. This figure represents an impact on the company’s Q3 combined ratio of approximately 18.3%, based on estimated property casualty earned premiums. In August, a midwest derecho caused approximately $103 million of losses, after an estimated reinsurance ... Read the full article

September wildfires push Allstate’s Q3 cat bill to $990mn

15th October 2020

US primary insurer Allstate has revealed that it incurred estimated pre-tax catastrophe losses of $990 million over the third quarter of 2020, or $782 million after tax. The company put its September cat losses at $339 million ($268 million, after-tax), which added on to losses of $651 million ($514 million, after-tax) ... Read the full article

The Hanover estimates $66mn in Q3 cat losses

14th October 2020

The Hanover Insurance Group expects its third quarter catastrophe losses to total approximately $66 million. This pre-tax figure ($52 million after taxes) is driven primarily by hurricane Isaias and wildfires in California and Oregon. The estimate also includes roughly $10 million of favourable prior-year development on several events from recent accident years. The ... Read the full article

AXIS estimates Q3 cat losses at up to $255mn

14th October 2020

Bermuda-based insurer and reinsurer AXIS Capital Holdings Limited has estimated that it will incur catastrophe losses of between $225 million and $255 million during the third quarter of 2020. This figure is pre-tax, with the loss range decreasing to $190 million to $220 million after accounting for tax. Losses primarily relate to ... Read the full article

Hurricane Delta insured losses seen at up to $3bn by AIR

14th October 2020

Catastrophe risk modeller, AIR Worldwide, has estimated that insurance and reinsurance industry losses to onshore properties as a result of Hurricane Delta's winds and storm surge will range from $1 billion to $3 billion. AIR's estimates include losses to onshore residential, commercial, and industrial properties and automobiles, for their building, contents, ... Read the full article

Up to $210mn in Q3 cat losses for Arch

14th October 2020

Bermuda-based re/insurer Arch Capital Group is anticipating catastrophe losses in the third quarter to fall between $190 million and $210 million. Catastrophe that occurred during the period include hurricanes Isaias, Laura, and Sally, the Derecho Windstorm, California Wildfires and other minor global events. Arch's estimate relates to its property casualty re/insurance segments ... Read the full article

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