Reinsurance News

Losses

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

Higher catastrophe losses dent Travelers’ Q2 performance

21st July 2017

High levels of both catastrophe and non-catastrophe weather losses saw insurer Travelers record lower net income in the second-quarter of 2017 when compared with the previous year, while the insurer's combined ratio weakened to 96.7%. The firm has reported pre-tax catastrophe losses, net of reinsurance, of $433 million for the second-quarter ... Read the full article

Reinsurers face losses from South Africa storm and fires

9th June 2017

Losses from South Africa's recent Cape storm and fires in Knysna have made it a tough start to the year for insurers in the region, as analysts warn the industry will come under pressure to manage the growing claims costs, although a cushion will be provided by reinsurance cover. Earlier this week Cape ... Read the full article

Canada hit with heavy flooding, too early to call losses

16th May 2017

Canadian provinces of British Columbia, Quebec, Ontario, and the Canadian Maritimes were hit with severe floods after persistent, heavy rainfall combined with snowmelt, causing rivers and lakes in the region to swell. Losses are expected to be felt in the millions of dollars (USD), but it's too early to call industry ... Read the full article

Insured losses reach AU$42 million after Sydney freak summer storm

20th February 2017

The Insurance Council of Australia (ICA) has reported insured losses of AU $42 million (US$32 million) and rising after a freak summer storm ravaged Sydney and parts of New South Wales. And insured loss estimates for the NSW bushfires have risen to AU$28.5 million (US $21 million) - a figure that ... Read the full article

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

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