Reinsurance News
perils
PERILS raises final industry loss estimate for SE Australia floods to AUD 965m
27th October 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed its fourth and final industry loss estimate for the October 2022 Southeast Australia floods, increasing it to AUD 965 million. This latest figure compares to PERILS’ previous loss estimates of AUD 907 million, released on 27 April, AUD 840 million, released ... Read the full article
PERILS revises final industry loss estimate for Typhoon Nanmadol to JPY 125.9bn
20th September 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed its fourth and final industry loss estimate for Typhoon Nanmadol, lowering it to JPY 125.9 billion. This latest figure compares to PERILS’ previous loss estimates of JPY 129.6 billion, released on 20 March, JPY 119.7 billion, released on 20 December, and JPY 113.5 ... Read the full article
PERILS & CyberAcuView team up to launch US Cyber Industry Loss Index
10th September 2023
Zurich-based catastrophe insurance data provider, PERILS and CyberAcuView, the independent US-based organisation set-up by leading cyber insurers for the benefit of the cyber insurance market, have announced the launch of a US Cyber Industry Loss Index. According to the announcement, the Cyber Industry Loss Index reports affirmative US primary cyber market ... Read the full article
PERILS IED now available in the Open Exposure Data format
31st August 2023
Zurich-based catastrophe insurance data provider, PERILS and the Oasis Loss Modelling Framework (Oasis) have announced that the PERILS Industry Exposure Database (IED) is now available in the Open Exposure Data (OED) format. OED is a part of the Open Data Standards (ODS) initiative, which is managed by Oasis on behalf of ... Read the full article
IAG expects natural peril losses to be above budget for FY23
14th June 2023
IAG held its Investor Day to provide an update on its strategic execution, operating environment and financial targets, with Managing Director and CEO Nick Hawkins explaining that the firm expects to moderately exceed its natural catastrophe budget again. Hawkins explained that the insurer anticipates a small net reserve release and favourable ... Read the full article
PERILS’s second estimate shows New Zealand North Island flood industry loss of NZ $1.75bn
3rd May 2023
Catastrophe loss data aggregator PERILS AG has provided a second estimate of the insurance and reinsurance market loss from the severe flooding that impacted the North Island of New Zealand from January 27th to February 2nd, pegging the total at NZ $1.75 billion. On March 15, it initially estimated the insurance ... Read the full article
Turkey earthquakes insured loss pegged at $3.5bn by PERILS
21st March 2023
Zurich-based catastrophe insurance data provider PERILS has released its first estimate of industry loss from the recent Kahramanmaras Earthquake Sequence that hit Turkey and Syria, placing it at $3.5 billion (TRY 65.4 billion). A Mw 7.8 magnitude earthquake struck south-central Turkey near the Syrian border On 6 February 2023. The earthquake initiated ... Read the full article
Typhoon Nanmadol insured loss estimate rises to $988m: PERILS
20th March 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed its third industry loss estimate for Typhoon Nanmadol, raising it to JPY 129.6bn ($988m). This latest figure compares to PERILS’ previous loss estimates of JPY 119.7bn (USD 910 million), released on 20 December, and JPY 113.5bn (USD 860 million), released on ... Read the full article
Australia flood loss rises to $6.53bn in fresh PERILS update
13th March 2023
Catastrophe loss aggregator PERILS has released a fourth and final industry loss estimate of AUD 6.53 billion, for the devastating Eastern Australia floods that occurred over February and March in 2022. This update represents a slight increase over the previous loss estimate of AUD 6.292 billion, that PERILS released in ... Read the full article
PERILS issues final €3.85bn loss estimate for Feb 2022 European windstorm
21st February 2023
Zurich-based catastrophe insurance data provider PERILS has released its final loss estimate for the European windstorm series which affected the British Isles and continental Europe in February 2022, totalling €3,851m. The windstorm series consisted of three storms named Dudley, Eunice and Franklin by the UK Met Office, and Ylenia, Zeynep and ... Read the full article
PERILS raises industry loss estimate for SE Australia flooding to $840m
26th January 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed its second industry loss estimate for the Southeast Australia floods in October 2022, amounting to AUD 840m ($600m). This second estimate follows an initial loss estimate of AUD 791m, which was issued by PERILS on 8 December 2022, marking an AUD 49m ... Read the full article
PERILS estimates industry losses from flooding in SE Australia to hit AUD $791m
8th December 2022
Insurance data provider PERILS has given an initial industry loss estimate for the flooding in Southeast Australia of AUD $791m. This estimate is in reference to the flooding that affected New South Wales, Victoria, and Tasmania, between 12 and 28 October 2022. The number, said PERILS in a statement, covers ... Read the full article
KCC launches climate conditioned catalogs for hurricanes, floods & wildfires
6th December 2022
Karen Clark & Company (KCC) has announced the launch of complete stochastic climate-conditioned catalogs for the weather-related perils most impacted by climate change, hurricanes, floods, and wildfires. There are five associated climate catalogs for each peril, reflecting climate projections out to 2025, 2030, and 2050. Additionally, there are three separate views for ... Read the full article
PERILS issues final AU$972mn insured loss estimate for Australia floods
31st October 2022
Catastrophe loss aggregator PERILS has disclosed its fourth and final industry loss estimate for the Southern Australia Severe Storms which occurred from October 28-30, 2021. The final estimate of the insurance market loss is AUD 972 million. This compares to the third loss estimate of AUD 1.016 million which was issued ... Read the full article
Beazley enters into distribution partnership with Paragon for Weather Guard
2nd September 2022
Specialist insurer Beazley, has announced a new, efficient and effective online portal solution for its leading Weather Guard product. The new online portal, created in partnership with Paragon, will provide a faster service with no changes being made to the actual quality of cover, limits or specific weather perils. At the same ... Read the full article
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