Reinsurance News

Typhoon Hagibis

Typhoons to boost Japanese reinsurance rates, but not market-wide: Barclays

17th October 2019

The substantial industry losses stemming from Japanese typhoons in 2019 will provide a boost to affected regional lines, but are unlikely to trigger a sharp recovery in wider property and casualty (P&C) reinsurance prices, according to analysts at Barclays. With insured losses from Typhoons Faxai and Hagibis now pegged at between ... Read the full article

Japan’s three largest non-life insurers profitable despite Faxai, Hagibis

17th October 2019

AM Best analysis suggests that, barring any further major catastrophes in the next five months to fiscal year-end, Japan’s three largest non-life insurance groups are unlikely to report an overall loss despite the recent impacts of typhoon Faxai and Hagibis. In fact, due to effective catastrophe risk management and strong capitalisation, ... Read the full article

Hagibis could exhaust AIG’s cat allowance for Japan, say analysts

15th October 2019

Typhoon Hagibis, which devasted the east coast of Japan over the weekend, could exhaust the catastrophe allowance of American International Group, Inc. (AIG) in Japan, according to analysts at Credit Suisse. The firm noted that AIG has likely already used its Japan $550 million excess of $200 million occurrence coverage ... Read the full article

Hagibis insured losses could exceed $9bn-rated Faxai: KBW

14th October 2019

Typhoon Hagibis, which carved a path of destruction along the east coast of Japan over the weekend, could prove to be more costly than last month’s Typhoon Faxai, according to Keefe, Bruyette & Woods analysts. Hagibis made landfall along Japan’s east coast as a category 2 on Saturday evening, carving a ... Read the full article

Uncertainty remains as Japan braces for Super Typhoon Hagibis

10th October 2019

As Super Typhoon Hagibis bears down on the southern coast of Japan, uncertainty remains over the ultimate impact it will have on the region. Currently located over open waters 752 miles out from the central city of Yokosuka, Hagibis’ maximum sustained wind speed has been estimated at 129 mph (Category 3) ... Read the full article