insurance

Having previously explained that the Magnitude 7.0 earthquake that struck off the coast of the Fukushima region of Japan on February 13th 2021 was likely to be a billion dollar event, CRESTA has now estimated the industry loss from the quake at US $2.63 billion.

Tropical storm Elsa has now formed in the Atlantic and become the earliest fifth named storm on record, while only just missing another record for forming the furthest east this early in the season and is now forecast to track towards Florida and the Gulf Coast by early next week.

The project to issue a first catastrophe bond to benefit Jamaica has made further progress this month, with an important grant approval now received and the World Bank facilitated cat bond deal launch now imminent.

Defending itself in the courts against the United States Department of Justice’s objections to its proposed merger with rival insurance and reinsurance broker Willis Towers Watson (WTW), Aon has said that it would be “unacceptable” for its transaction to fail just because of a late trial date proposed by the DoJ.

The value of divestments needed to get insurance and reinsurance broker Aon’s acquisition of rival Willis Towers Watson (WTW) over the line continues to increase, with South Africa the latest country who’s competition authority has requested a remedy specific to its marketplace.

Parsyl Inc., a provider of data-driven, sensor-based systems that are used in parametric risk transfer and insurance, has made a pay-out under a temperature linked policy in less than 8 hours.

The Competition and Consumer Commission of Singapore has said this morning that it intends to deepen its review of the merger of insurance and reinsurance broking and consultancy giants Aon and Willis Towers Watson (WTW).

Tropical depression four which sits just off the South Carolina coast is expected to become the fourth named storm, as tropical storm Danny, of the 2021 Atlantic hurricane season before it makes landfall later today to the south-west of Charleston.

U.S. primary insurance carrier group FedNat Holding Company has expanded its reinsurance tower at its renewal this year, lifting its aggregate protection to $2.25 billion and its single event cover to $1.41 billion.

According to reports in the French media, insurance group Covéa is targeting an acquisition of AXA’s non-life reinsurance operations, which would be the Bermuda headquartered AXA XL Re division.