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Alliance of CEO’s call on G7 & world leaders to scale up climate risk transfer

With the G7 meeting in Cornwall, UK beginning tomorrow and the COP26 only five months away, CEO's of major global corporations are calling on world leaders to scale up climate risk transfer as part of the financial response to climate change. The Alliance of CEO Climate Leaders is a global community read the full article →

More & better “catastrophe-triggered” instruments needed: UN Sec-Gen Guterres

United Nations (UN) Secretary General António Guterres has again said that the world needs more catastrophe-triggered financing and better instruments to support the delivery of climate financing, to enhance disaster resilience, fund adaptation measures and finance climate risk. Speaking today at the Insurance Development Forum's (IDF) Summit 2021, UN Secretary General read the full article →

1-in-100 year global insured loss now over $300 billion: AIR

The 1% aggregate exceedance probability insured loss (also the 100-year return period loss) from catastrophe events around the globe has risen to more than US $300 billion, according to risk modeller AIR Worldwide. This figure has been rising steadily in recent years and now reaching almost $301 billion it is at read the full article →

Insured catastrophe losses reach $72bn in 2019: Aon

Natural catastrophe events cost the global economy an estimated $232 billion in 2019, while the insurance and reinsurance industry is estimated to have paid for roughly 31% of this at $72 billion, according to broker Aon. The insurance and reinsurance broking professional services firm has estimated 2019's insurance industry loss from read the full article →

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 →