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PCS to track Lürssen shipyard fire loss. Small ILS market hit possible?

The recent fire at a floating dock in the shipyard of luxury super yacht manufacturer Lürssen has been designated as a loss event to track by Property Claim Services (PCS) through its PCS Global Marine & Energy product.The fire is expected to result in a significant loss for the marine read the full article →

Tianjin explosions property insurance loss could reach $3.5bn: Swiss Re

Global reinsurance firm Swiss Re said today that its estimate for the insured property losses resulting from the Tianjin, China port explosions last summer could be as high as $3.5 billion, saying that significant uncertainty remains in the estimates, perhaps suggesting it could creep even higher.The Tianjin port blasts were read the full article →

Tianjin blasts insured loss could creep towards $6bn: IUMI

The insurance and reinsurance industry loss from the Tianjin, China port explosions last summer could creed up to somewhere between $5 billion to as much as $6 billion, according to reports, threatening a growing loss exposure for some ILS funds.Shortly after the Tianjin blasts occurred, the first insurance industry loss read the full article →

Tianjin loss may help moderate reinsurance prices at 1/1: Analysts

The insurance and reinsurance industry loss from the Tianjin port chemical storage facility explosions in China could help to moderate price declines at the all-important January reinsurance renewal season, according to J.P. Morgan Cazenove analysts.The analysts suggest that as a result of the exposure faced by some of the world's read the full article →

Tianjin explosion loss evolving, ILS fund exposures still minimal

The insurance and reinsurance industry loss from the Tianjin chemical storage facility explosions in China continues to evolve, with estimates now suggesting $3 billion or higher. Some ILS funds remain exposed, but any actual losses are expected to be minimal.A number of insurance and reinsurance linked ILS investment funds had read the full article →

Tianjin blasts insurance loss as much as $3.3bn: Guy Carpenter

The insurance and reinsurance industry losses from the explosions at the Chinese Port of Tianjin are expected to range from $1.6 billion to as much as $3.3 billion by broker Guy Carpenter, making the blasts one of Asia's largest man-made loss events.Guy Carpenter has published a report for its clients, read the full article →

ILS funds report potential exposure to Tianjin blast, but minimal

A number of insurance-linked securities (ILS) or reinsurance-linked investment funds have reported a potential exposure to the recent Tianjin chemical storage facility explosion in China, but any impact to the ILS market is expected to be extremely minimal.With the expansion of ILS funds into collateralized reinsurance and some managers beginning read the full article →

Tianjin explosion costs to hit reinsurers, amount uncertain: Rating agencies

There is an expectation that some of the claims from the recent explosion at chemical storage facilities in Tianjin, China, will be passed onto reinsurance companies. Rating agencies expect losses from the blasts will hit reinsurers, but stress that the amount is uncertain at this time.Rating agency A.M. Best said read the full article →

Tianjin explosion insurance losses could hit $1.5bn (or higher)

The insurance and reinsurance industry losses from the recent chemical explosion at the Chinese port facilities of Tianjin could reach as high as $1.5 billion, according to analysts at Credit Suisse. Meanwhile Fitch Ratings later said that there is a chance the insured loss could pass that level.The explosion which read the full article →

Weather & climate disasters have cost the global economy $2.4 trillion

Demonstrating the need to increase financial protection against weather, climate and water related disasters, a new report from the WMO shows that between 1970 and 2012 the global economy suffered a huge $2.4 trillion of losses as a result of these events.The economic loss toll from these events is huge read the full article →