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Aon puts 2017 global catastrophe insured losses at $134bn

Impact Forecasting, the catastrophe and weather risk analysis arm of reinsurance brokerage Aon Benfield, has estimated the insurance industry losses from 2017 catastrophes and severe weather events at $134 billion, just slightly below the record high seen in 2011 of $137 billion.Aon's $134 billion estimate, from its new Weather, Climate & read the full article →

Insured catastrophe losses hit record $135bn in 2017: Munich Re

Reinsurance giant Munich Re said that natural catastrophe events in 2017 have caused record insurance and reinsurance market losses, with the total industry bill estimated at $135 billion, but insurance only covered 41% of the damage as the economic loss from 2017 disasters is pegged at $330 billion.Fellow reinsurance firm read the full article →

2017 global insured disaster losses estimated at $136bn: Swiss Re

Reinsurance giant Swiss Re has estimated that global insured losses from natural and man-made disasters will hit $136 billion, the third highest figure on record but still trailing well below an expected $306 billion of economic impact.Economic losses are significantly higher than seen in 2016 ($188bn) and losses that will read the full article →

2016 U.S. catastrophe frequency the highest since 1980: PCS

2016 was the most active catastrophe year since 1980 in the U.S. as 43 PCS-designated cat events incurred insured damages of around $21 billion, according to the PCS full-year 2016 Catastrophe Review.In North America it was a fairly busy year in terms of catastrophe events, with PCS designating 43 events read the full article →

1-in-100 year event estimated at $253 billion in insured losses: AIR

New data and analysis from international catastrophe risk modeller, AIR Worldwide, reveals that a 1-in-100 year loss event is equivalent to an estimated $253 billion in global insured losses, an increase of roughly 8% on last year and, the trend is evident across all loss metrics.AIR has been producing these read the full article →

U.S. catastrophe losses 20% above historical average in H1 2016: PCS

An increase in catastrophe activity during the first-half of 2016 across the U.S. resulted in insured losses of $13.5 billion, which is 20% higher than the ten-year historical average, according to Property Claim Services (PCS).First-half 2016 U.S. catastrophe loss activity increased modestly on the same period last year, as the read the full article →

Reinsurance to take share of EUR500m+ Netherlands June storm loss

A period of severe summer storms in the Netherlands in June, which brought high winds, torrential rain and large hail to the region, is expected to result in more than EUR500m of insurance industry losses, with reinsurance capital expected to take a share.The Dutch insurance association, Verbond van Verzekeraars (VNV), read the full article →

$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 →

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 →

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 →