flood

The insurance and reinsurance industry loss from recent European flooding could be as much as US $3 billion, according to an early estimate from analysts at investment bank Berenberg, although our sources in the industry are suggesting it could be higher still once all damage claims are counted.

The devastating flooding across western and central Europe of recent days is expected to drive both economic and insured losses into the multiple billions of Euros, according to Aon’s Impact Forecasting unit.

The ongoing and historic flooding across Europe is very unlikely to have an impact on the catastrophe bond market and insurance or reinsurance market losses will only be a fraction of the overall economic impact, showing the evident flood risk protection gap and the opportunity for cat bonds to help close it, according to Plenum […]

Severe flooding across a number of countries in Europe looks set to become one of the most expensive flood episodes on record, with the insurance and reinsurance industry expecting billion Euro industry losses.

Winter 2020 severe windstorms and flooding events cost insurance and reinsurance interests in the United Kingdom almost US $1.1 billion, according to the latest data from PERILS AG.

The estimate for insurance and reinsurance market losses from the severe east coast low pressure storm that hit Australia at the beginning of February 2020, has been finalised with a rise of 3% at A$989 million by PERILS AG.

Global investment firm Franklin Templeton has released a new report that examines the growing role of insurance-linked securities (ILS) in alleviating flood risk, particularly in the US where the financial burden on FEMA and the Treasury seems to be increasing every year.

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).

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.

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.