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$15 billion of U.S. & Canada insured losses in first-half of 2016: PCS

PCS designated 27 catastrophe events in the first-half of 2016 across the U.S. and Canada amounting to insured losses of $15 billion, including the devastating wildfires in Alberta, Canada and a series of intense hailstorms and flooding in Texas.In order for PCS to designate an event a catastrophe it must read the full article →

UK flood insured loss estimate falls to £1.135bn on Eva-Frank drop: PERILS

The insurance and reinsurance industry loss estimate from the UK flooding that hit the country in December 2015 and early January 2016 is now £1.135 billion ($1.56bn), after the estimate for storms Eva – Frank fell by 7%, according to PERILS AG.Zurich-based PERILS AG, a provider of industry-wide European catastrophe read the full article →

PERILS drops Storm Desmond UK flood loss estimate 10% to £597m

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has reduced its estimate insurance or reinsurance market losses from UK floods due to storm Desmond in December 2015 by another 10% down to £597m ($860m).Today PERILS has released its third estimate of insured property losses caused read the full article →

ABI sticks to final UK floods insurance bill of £1.3 billion

The Association of British Insurers (ABI) is sticking with its estimate that the final insurance bill for last winter's UK flooding will cost around £1.3 billion (approximately $1.9 billion), so impact to reinsurance and ILS markets should not creep too much higher.The ABI said today that over 15,000 insurance claims read the full article →

Q1 catastrophe frequency & losses the highest in a decade – PCS

PCS reported earlier this year that 2015 was the most active year for catastrophe events across the U.S. since 2007, and the firm’s first-quarter 2016 catastrophe report reveals a continuation of the trend as catastrophe frequency and severity intensified during the quarter.Catastrophe activity across the U.S. and Canada during the read the full article →

UK floods insured loss now £1.24bn, as Eva-Frank estimate rises: PERILS

The insurance and reinsurance industry loss from the flooding that struck the UK in December 2015 and early January 2016 is now estimated at £1.24 billion ($1.75bn) as the estimate for storms Eva - Frank rises 10%, according to PERILS AG.According to Zurich-based PERILS AG, a provider of industry-wide European read the full article →

PERILS lowers estimate for Storm Desmond UK flood losses to £662m

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has lowered its estimate of insurance or reinsurance market losses from the UK flooding caused by storm Desmond at the beginning of December 2015 to £662m ($940m).The reduction of almost 8%, from the initial loss estimate for read the full article →

PCS reports rise in catastrophe frequency, suggests growing ILS exposure

PCS recorded 40 catastrophe events across the U.S. during 2015, making it the most active year for PCS-designated cat events since 1996, underlining the growing exposure of insurance-linked securities (ILS) funds to frequency events.Insured losses from catastrophe events in the U.S. throughout 2015 amounted to $14.3 billion, 8% lower than read the full article →

Storms Eva – Frank UK flood insured losses £526m ($770m): PERILS

The insurance and perhaps reinsurance industry loss due to UK flood damage caused by storms Eva & Frank in December and other low pressure systems in January, is estimated to have cost the industry £526 million ($770m or €685m), according to PERILS AG.The first estimate for the insured flooding losses read the full article →

Storm Desmond UK floods insured loss $1bn+ (£717m): PERILS

The UK flooding caused by storm Desmond at the beginning of December is estimated to have caused £717 million ($1.035 billion or €950m) of insurance, and perhaps reinsurance, industry losses, according to PERILS AG.PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, provides its first estimate read the full article →