earthquake

An earthquake struck around 12 kilometres to the north of Anchorage, Alaska on Friday 30th November, causing widespread damage to infrastructure and an expectation of thousands of minor incidences of property damage as impacts to homes were also widespread, although not expected to result in severe losses.

It appears that investor appetite for the new Golden State Re II Ltd. (Series 2018-1) catastrophe bond, that provides reinsurance protection for workers compensation claims caused by earthquakes, has not been as high as expected, as the deal has shrunk slightly to $210 million in size, while the pricing has been fixed at the top-end […]

A renewal of the only catastrophe bond in the market that provides its sponsor with reinsurance protection for workers compensation claims caused by earthquakes is underway, as a currently $225 million Golden State Re II Ltd. (Series 2018-1) transaction has been launched to the market.

Insurance firms that underwrite earthquake insurance in Japan are facing almost $1 billion of claims from this years Osaka and Hokkaido earthquakes, according to the latest data from the local insurance association.

A devastating earthquake that struck the Indonesian island of Sulawesi on Friday causing a tsunami is expected to have resulted in more than 1,000 deaths, according to reports, with widespread destruction reported along the coastline and some areas still unreachable.

The two government-sponsored enterprises (GSE’s) in mortgage risk, Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation), should be required to transfer some of the earthquake risk exposure they carry to the capital markets, according to a report.

Insurance claims paid following the shallow magnitude 5.3 earthquake that struck the Osaka prefecture area of Japan in June 2018 now total almost $770 million (JPY 86.6bn), according to the countries insurance association.

Japan and its insurance industry may be facing billion of dollars of losses from the impacts of yesterday’s magnitude 6.7 earthquake in Hokkaido and recent typhoon Jebi, which was the strongest storm to hit the Japanese mainland in 25 years.

The magnitude 6.7 earthquake that struck the Sapporo region of Hokkaido, Japan early this morning is not anticipated to cause any losses to the catastrophe bond market, despite as much as 8% of outstanding cat bond risk capital could be exposed to an earthquake striking the country.

At least two people have died and currently over 30 unaccounted for following a strong magnitude 6.7 earthquake that struck the Sapporo area of Hokkaido in Japan this morning, causing damage to property, infrastructure and landslides that have engulfed more dwellings.