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Australia’s summer catastrophe industry loss hits A$5.4bn

Insurance and reinsurance industry losses from the spate of catastrophe events that impacted Australia through its summer months in 2019/20 are now estimated to have reached A$5.4 billion, according to the Insurance Council of Australia (ICA). That's a continued rise from the almost A$5.1 billion of industry losses reported back in read the full article →

UK winter floods & storms cost re/insurers more than $1bn: PERILS

The insurance and potentially reinsurance market loss from flooding that struck the United Kingdom this February is now estimated to have caused an industry loss of UK £375 million, up 26% from an estimate made in April. Detailed claims data collected from insurers shows that the toll to the industry from read the full article →

Australian east coast low industry loss raised 21% to A$958m

The estimate of insurance and reinsurance market losses from a severe east coast low pressure storm that struck Australia at the beginning of February, has risen some 21% at the second reporting to A$958 million, according to PERILS AG. PERILS latest estimate, which is its first update since it estimated the read the full article →

AIR updates U.S. hurricane & inland flood catastrophe models

Catastrophe risk modelling specialist AIR Worldwide announced this week some timely updates to its Hurricane and Inland Flood Models for the United States. With hurricane season now underway and all forecasts pointing to an active year for tropical storms near the U.S., AIR's risk model updates come at just the right read the full article →

Australian summer catastrophe industry losses surpass A$5bn

Insurance and reinsurance market losses from Australia's series of summer catastrophe loss events have now risen to a new high of almost AU $5.1 billion, according to the Insurance Council of Australia. When we last covered these loss events, which range from severe convective weather related hail storms, to flooding and read the full article →

UK winter floods & wind related industry losses said £650m: PERILS

The insurance market loss from flooding that struck the United Kingdom earlier this year is initially estimated to be £279 million (around US $350m), according to PERILS AG, but the overall winter weather hit from floods and wind is estimated as £650 million (around US $810m). PERILS estimate for the insurance read the full article →

Australian east coast low industry loss estimated at A$794m by PERILS

Insurance and reinsurance market losses from a severe east coast low that struck Australia at the beginning of February are estimated to be A$794 million, according to PERILS AG. As we explained yesterday, the Insurance Council of Australia (ICA) pegged the losses from this latest catastrophe to beset Australia during its read the full article →

Loss from Australia’s Feb east coast storms & floods reaches A$677m

Insurance and reinsurance market losses from severe storms and flooding that impacted the eastern coastal region of Australia at the beginning of February are now estimated to have reached A$677 million by the Insurance Council of Australia (ICA). The storms and torrential rains began around February 4th and ran through to read the full article →

Townsville flood insurance market loss finalised at A$1.243bn by PERILS

The insurance and reinsurance market loss to property lines of business from flooding that struck the Townsville and surrounding area of the Queensland region of Australia in 2019 has now been raised 2% and finalised at A$1.243 billion by PERILS AG. PERILS, the Zurich-based and industry backed aggregator of insurance market read the full article →

Australian storms & floods lift catastrophe losses, may drive more reinsurance claims

Insurers in Australia are now facing almost A$2.6 billion of catastrophe losses just from the last five months, with the latest being a spate of extreme rainfall and flooding in recent days that increases the chances of more losses leaking into the reinsurance market from the country. Severe storms brought torrential read the full article →