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Swiss Re puts insured catastrophe losses at $19bn for H1 2019

Global reinsurance firm Swiss Re has estimated that first-half 2019 natural catastrophes and severe weather events around the globe cost the insurance industry $19 billion, covering just 42% of the $40 billion economic impact.The percentage of economic losses insured is lower than a year ago, on Swiss Re's data, when read the full article →

Munich Re puts H1 2019 insured catastrophe losses at just $15bn

Global reinsurance giant Munich Re has estimated that catastrophe losses affecting the insurance industry globally cost it just $15 billion in the first-half of 2019, below the long-term average.Economic losses from natural catastrophes around the world in the first-half of the year are pegged much higher, at $42 billion, meaning read the full article →

Insured catastrophe losses in H1 2019 lowest since 2006 at $20bn: Aon

Helping to boost reinsurance returns on equity (RoE), insured catastrophe losses have fallen to their lowest level seen since 2006 in the first-half of this year, according to broker Aon.Only $20 billion of insured losses were sustained by the public and private insurance and reinsurance market during the first-half of read the full article →

Texas hail storms boost Allstate’s Q1 cat losses, but Sanders Re cat bond safe

U.S. primary insurer Allstate was hit by losses from convective and severe thunderstorm related weather events in Texas in March, which have resulted in the firms Q1 catastrophe losses rising above some analysts expectations.The March hail storms and convective storm related wind losses have been an expensive event for the read the full article →

Catastrophes hit two-year high of $219bn on secondary peril losses: Swiss Re

Global insurance and reinsurance losses from natural catastrophes reached $76 billion in 2018, the fourth highest in reinsurance firm Swiss Re's sigma records.But over the two years of 2017 and 2018 global insured catastrophe losses reached a new record high level at $219 billion.Given the record level of catastrophe losses read the full article →

Physical & financial effects of climate change are accelerating: WMO

The physical and financial impacts of climate change are accelerating, according to the World Meteorological Organization, who says that record greenhouse gas concentrations are pushing global temperatures towards increasingly dangerous levels.The impacts and effects of climate change on the frequency, intensity and overall occurrence of severe weather related catastrophes and read the full article →

Weather and climate disasters cost U.S. $91bn in 2018: NOAA

The United States was hit by 14 billion dollar weather and climate disasters in 2018, costing the country roughly $91 billion, according to the U.S. National Oceanic and Atmospheric Administration (NOAA).In its latest report on the state of the U.S. climate in 2018, NOAA reports that the number of weather read the full article →

Insured natural catastrophe losses hit $90bn in 2018: Aon

42 billion-dollar severe weather and natural catastrophe events along with the impacts of a particularly costly global tropical cyclone year and higher than average wildfire losses, all aggregated to drive a $90 billion annual nat cat loss to insurance and reinsurance interests, according to Aon.The insurance and reinsurance broker said read the full article →

Munich Re pegs 2018 catastrophes at $80bn, hikes wildfires & Jebi estimates

Global reinsurance firm Munich Re said today that 2018 catastrophe events have driven an estimated $80 billion of industry losses and in the announcement has hiked some industry loss estimates for events including the California wildfires and typhoon Jebi.In 2018 it seems insurance covered roughly 50% of the total financial read the full article →

Swiss Re estimates global insured losses at $79bn for 2018

Global reinsurance firm Swiss Re has estimated that natural catastrophes and man-made disasters will cost the insurance industry around $79 billion in 2018, the fourth highest annual industry loss on its sigma records.Of the $79 billion, Swiss Re estimates that natural catastrophes will drive $71 billion of the loss to read the full article →