earthquake

A magnitude 7.5 earthquake struck off the northeastern Japanese coast along the Sanriku region of Hokkaido and Iwate prefecture at around 4.50pm local time Monday (8.50am UK), with small tsunami waves already reported and a warning of the potential for higher waves imminently.

Miller, the independent specialist re/insurance broker, has partnered with Specialty Program Group Canada (SPG Canada) and NormanMax Syndicate 3939 to facilitate a binder between the two parties, granting SPG Canada full underwriting authority for a first-of-its-kind parametric earthquake solution in British Columbia.

We’re waking to reports of Pacific basin-wide tsunami alerts having been issued by numerous countries after a magnitude 8.8 earthquake occurred near the Kamchatka Peninsula of Russia this morning.

The recent and first ever ‘megaquake’ warning issued by authorities in Japan has heightened the perception of the peril’s risk and even though the warning was eventually lifted, it is seen as a factor that could be supportive of reinsurance pricing for that country, by analysts at J.P. Morgan.

Italian primary insurance company UnipolSai Assicurazioni S.p.A. has now secured its targeted €100 million in collateralized earthquake reinsurance from the Azzurro Re II DAC (Series 2024-1) catastrophe bond with pricing finalised at the top-end of initial guidance, Artemis has learned.

In what might be viewed as another sign of a more balanced supply-demand dynamic in the catastrophe bond market, the latest deal from UnipolSai Assicurazioni S.p.A. has remained at €100 million in size, but the pricing for the Azzurro Re II DAC (Series 2024-1) cat bond notes has been lifted to the top-end of initial […]

Italian primary insurance company UnipolSai Assicurazioni S.p.A. is back in the catastrophe bond market and seeking €100 million in earthquake reinsurance protection through an Azzurro Re II DAC (Series 2024-1) cat bond issuance, Artemis has learned.

The insurance and reinsurance market industry loss estimate for the Kahramanmaras Earthquake Sequence that struck Turkey in February 2023 has been lifted by a significant 26%, by PERILS, to reach TRY 117 billion, which would have been US $6.2 billion at exchange rates when the disaster struck.

Moody’s RMS has estimated the insurance market loss from the January 1st M7.5 earthquake that hit near the Noto peninsula in Ishikawa prefecture, Japan, at between US $3 billion and $6 billion.

Verisk’s Extreme Event Solutions business unit has estimated the insurance industry loss from the January 1st M7.5 earthquake that hit near the Noto peninsula in Ishikawa prefecture, Japan, at between JPY 260 billion (US $1.8 billion) and JPY 480 billion (US $3.3 billion).