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Further Jebi loss creep may impact RenRe’s retro portfolio: CEO O’Donnell

If the loss creep linked to Japanese typhoon Jebi continues it has the potential to impact RenaissanceRe's retrocessional reinsurance underwriting book, according to the firms CEO.Kevin O'Donnell, the CEO of Bermuda headquartered reinsurance firm RenaissanceRe (RenRe), explained during his firms recent quarterly earnings call that the potential for further development read the full article →

Jebi creep impacts ongoing, as loss threatens fresh reinsurance layers

The impacts to reinsurance and ILS players from the typhoon Jebi losses in Japan may still have a little further to run, as the escalation of the industry loss has hit fresh layers in reinsurance programs, we've learned.Sources in the insurance-linked securities (ILS) market said that a typhoon Jebi final read the full article →

The ongoing, innovative evolution of PCS: Tom Johansmeyer

Over the last couple of years, Property Claim Services (PCS) has innovated and evolved to offer an enhanced, client-centric global strategy designed to serve both existing and new client needs.In light of a flurry of market activity, Artemis spoke with Tom Johansmeyer, Co-Head of PCS, about the firm’s undertakings over read the full article →

Loss creep evident in combined $14.5bn Jebi, Trami, Japan rains claims from GIAJ

Reported claims figures for the typhoons and extreme rainfall event that struck Japan last year have risen significantly, with the latest figures from the General Insurance Association of Japan (GIAJ) totalling over US $14.5 billion.The insurance and reinsurance industry losses from these three Japanese events have escalated so far this read the full article →

Typhoon Jebi industry loss may settle at $15bn to $16bn: Analysts

The insurance and reinsurance industry wide loss from Japanese typhoon Jebi looks destined to rise even further, with analysts saying that industry participants they met with recently in Bermuda have suggested the loss may settle at between $15 billion to as much as $16 billion.The industry loss from the most read the full article →

First PCS triggered Japan ILW brokered by Willis Re

Property Claim Services (PCS) industry loss data aggregation and index reporting services for non-marine catastrophe losses in Japan has already been used for an industry loss warranty (ILW).We've learned that reinsurance broker Willis Re has become the first to structure and trade an industry loss triggered retrocessional risk transfer instrument read the full article →

Jebi nears $13bn, why industry missed the loss creep: Swiss Re CFO

Global reinsurance firm Swiss Re strengthened its typhoon Jebi loss reserves in the last quarter and the firms CFO John Dacey said that the company puts the industry loss from the storm at close to $13 billion now.Dacey also explained why the company believes the reinsurance industry missed the loss read the full article →

Market missed typhoon Jebi BI, industry loss now up to $13bn: Grandisson, Arch

Bermudian insurance and reinsurance group Arch Capital believes the industry loss from typhoon Jebi could now be as high as $13 billion and its CEO Marc Grandisson said that the market missed the business interruption and contingent BI exposures.Reinsurance market sources had already suggested to us that the industry loss read the full article →

Typhoon Jebi industry loss moving closer to $12bn

Reinsurance market sources are suggesting that the industry loss from typhoon Jebi in Japan will get closer to $12 billion, as loss creep continues from what is the most costly typhoon event to ever hit the country.Previously, Property Claim Services (PCS) gave its first official estimate for typhoon Jebi, having read the full article →

PCS enhances U.S. service with state-level market share data capture rates

Property Claim Services (PCS) is to provide greater transparency for U.S. catastrophe loss estimates via the delivery of state-level market share data capture rates for U.S. events with insured losses of at least $1 billion.PCS, a Verisk Analytics business, says that its state-level market share data capture rates for qualifying read the full article →