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Aggregate reinsurance pricing & supply set for examination: AM Best

As participants in the insurance, reinsurance and insurance-linked securities (ILS) industry grapple to understand the extent of their possible exposure to the severe convective storms and tornadoes of recent days, AM Best has warned that loss events like this will drive a re-examination of aggregate reinsurance pricing and supply. In discussing read the full article →

Survey suggests $2.5bn – $5bn tornado industry loss, but 53% say $5bn+

Our sister publication Reinsurance News surveyed a segment of its industry readership as to how high they anticipate the insurance and reinsurance market loss from the recent severe storm and tornado outbreak will rise, with the largest percentage opting for between $2.5 billion and $5 billion. Official industry loss estimates are read the full article →

Properties with reconstruction value of $3.7bn exposed to tornadoes: CoreLogic

Preliminary data from CoreLogic shows that properties with a reconstruction value of almost $3.7 billion were exposed to the tornado outbreak at the weekend, with $2.9 billion in Kentucky alone. As a result, the company said yesterday that insurance and reinsurance market losses would be in the billions, with the majority read the full article →

US tornado & storm outbreak estimated a $3bn insured loss by KCC

The recent outbreak of deadly tornadoes and damaging severe convective storms in the United States has been estimated as a roughly $3 billion insurance industry loss, by risk modeller Karen Clark & Company. KCC is, as ever, the first out of the gates with a modelled estimate of insurance and reinsurance read the full article →

Tornadoes a multi-billion loss, a “limited portion” for reinsurance: Aon

Broking powerhouse Aon has warned that the industry faces a multi-billion loss from the US tornadoes that struck at the weekend, but notes that at this stage it only anticipates a "limited portion" of the losses being ceded to reinsurance. Perhaps more notable though, is the fact that Aon highlights the read the full article →

US tornado toll likened to $7bn industry loss from 2020 Derecho

Lloyd's of London syndicate manager and private capital specialist Argenta Group suggests that the weekend tornado damage in the southeastern United States could result in an industry loss that it likens to the 2020 Derecho event, that resulted in an estimated $7 billion of costs for insurance and reinsurance markets. Of read the full article →

Tornado impact to ILS investors cannot be ruled out: Twelve Capital

At this still early stage following the tornadoes and severe storms that struck the United States this weekend, it's not yet possible to rule out any loss impacts to ILS investors, according to Twelve Capital. The insurance-linked securities (ILS) and reinsurance focused asset manager said that it is not yet aware read the full article →

Tornadoes to affect some aggregate cat bonds: Plenum

The weekend’s significant tornado activity in the United States could affect some aggregate catastrophe bonds, according to insurance-linked securities (ILS) asset manager Plenum Investments. Plenum explained in an update that the weekend tornado outbreak across southeastern US states is relatively rare, with severe tornado impacts more typically expected in April or read the full article →

Weekend tornado & storm losses to run into billions of dollars

This weekend's tragic tornado impacts across southeastern US states is expected to drive an insurance and reinsurance market loss into the billions of dollars, with sources stating it could be the largest tornado-driven industry loss in a decade, perhaps more. The severe storms struck the US southeast on Friday night (December read the full article →

Tornado & severe storms wreak damage in Chicago suburbs

Severe storms rolled into Illinois in the last few hours, with tornado warnings were raised for the Chicago suburbs. At least one tornado touched down and has caused significant damage in the Woodridge suburb of the city. This event only struck in the last couple of hours, so information remains limited read the full article →