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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 →

PCS puts Typhoon Jebi at $10bn, loss creep may continue: Johansmeyer

Typhoon Jebi is estimated to have caused an insurance industry loss of $10 billion by Property Claim Services (PCS), with the potential for further loss creep apparent, according to Tom Johansmeyer, Co-Head PCS.PCS recently expanded its range of insurance and reinsurance market loss data aggregation and index reporting services to read the full article →

PCS county-level estimates to enhance industry loss risk transfer

PCS has announced that it's to deliver county-level resolutions for catastrophe events in the U.S. with insured losses of at least $1 billion, providing an enhanced level of granularity that contributes to lower basis risk in industry loss index trading.The new offering (that we wrote about previously here) is available read the full article →

PCS to launch Japanese industry loss estimates & index

Property Claim Services (PCS) is set to expand its range of industry loss data aggregation and index reporting services to include non-marine catastrophe losses in Japan, in response to demand from its client base.PCS provides estimates on catastrophe losses in a number of regions around the world, as well as read the full article →

Miller completes acquisition of ILW broker Alston Gayler (AG)

Miller Insurance Services LLP, the London broker majority owned by Willis Towers Watson (WTW), has completed its acquisition of Lloyd’s accredited and London headquartered insurance and reinsurance broker Alston Gayler (AG).Alston Gayler has a recognised ILW broking practice specialty and experience broking to collateralised reinsurance markets as a result and read the full article →

ILS trigger indemnity shift continues, non-indemnity still important: Willis Re

The shift towards indemnity triggers in the insurance-linked securities (ILS) market has accelerated in 2018, but alternatives such as industry loss index triggers and parametric triggers remain important as well, with the potential to have meaningful impact, according to Willis Re's ILS team.In reporting a record third-quarter for ILS and read the full article →

ILW broker Alston Gayler (AG) to be acquired by Miller

Lloyd’s accredited and London headquartered insurance and reinsurance broker Alston Gayler (AG), which has a recognised ILW broking practice, is to be acquired by fellow broker Miller Insurance Services LLP, the London broker majority owned by Willis Towers Watson (WTW).Alston Gayler (AG) is well-known as a broker in the insurance-linked read the full article →