Growing flood gap a “catalyst” for ILS: Franklin Templeton

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. Penned by Jonathan Malawer, Head of ILS, Commodities & read the full article →

Stalling hurricanes not more frequent, but exposure to them rising: TigerRisk

Research performed by global reinsurance broker and risk capital advisory TigerRisk Partners finds that the phenomena of hurricane stalling over land has not become more frequent, but the dollar value of damages caused are rising as exposures increase. The United States saw two significant stalling hurricanes in the last two years, read the full article →

Wind & water disaster payouts hit record level for Japanese insurers

The major Japanese insurance firms are set to payout record levels of claims following wind and water related natural disasters in the country in 2018, with as much as $8.8 billion of losses expected just for the top three firms. Reinsurance capital providers, including ILS funds and other third-party capital vehicles, read the full article →

Claims paid for July rains & floods in Japan approach $1.5bn

The July flooding in Japan caused by extreme levels of rainfall has now resulted in almost $1.5 billion of insurance claims paid, according to the latest figures from the General Insurance Association of Japan (GIAJ). Recently, catastrophe risk modelling specialist AIR Worldwide estimated an insurance and reinsurance industry loss of somewhere read the full article →

Japan rains & floods estimated as up to $4bn re/insurance industry loss: AIR

The recent flooding in Japan caused by extreme levels of rainfall could result in an insurance and reinsurance industry loss as high as $4 billion, according to catastrophe risk modeller AIR Worldwide. The latest estimate for the impact to the insurance and reinsurance market from the severe flooding in western Japan read the full article →

Japanese insurer losses from July rains & floods rise into the billions

The losses suffered by Japanese insurance firms after the extreme rainfall and flooding in July are rising into the billions of dollars, with leading companies having reported their losses recently and claims already paid having surpassed $715 million. The rainfall in early July caused at least 200 deaths in Japan, as read the full article →

Droughts, wildfires & floods cost over $7.3bn in July: Aon

Severe droughts, wildfires and flooding from torrential rain and typhoons have combined to cause in excess of $7 billion of economic losses in July 2018, with the insurance and reinsurance industry set to pay its share of the global bill. Impact Forecasting, the catastrophe risk analysis arm of insurance and reinsurance read the full article →

Japan flood losses estimated as in the billions: JLT Re

The recent devastating flooding in Japan which is now reported to have caused at least 200 deaths and the flooding of thousands of homes and commercial properties is expected to cause industry losses in the billions of U.S. dollars, according to reinsurance broker JLT Re. Japan was struck by its worst read the full article →

Japan flooding among “worst weather disasters” to hit country

Japan has been hit by torrential rainfall in recent days resulting in some of the worst flooding seen in history, with now more than 125 people confirmed as having died in the event and widespread damage to homes and businesses. Meteorological authorities said that the flooding in the west and south-west read the full article →

UK floods loss finalised at £1.108bn on Eva-Frank drop: PERILS

PERILS AG has finalised its insurance and reinsurance industry loss estimate for the UK floods in winter 2015/16 at £1.108 billion, after its fourth industry loss estimate for storms Eva – Frank has been pegged at £504 million. Eva – Frank struck the UK between the 25th December 2015 to 14th January read the full article →