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Unipol set to secure €100m Azzurro Re II cat bond within price guidance

Italian primary insurance company UnipolSai Assicurazioni S.p.A. looks set to secure its latest catastrophe bond backed source of reinsurance coverage within the initial price guidance and with the European earthquake catastrophe bond Azzurro Re II DAC (Series 2020-1) still on target at EUR 100 million. Many cat bonds issued in recent read the full article →

Unipol sponsoring new €100m Azzurro Re II European quake cat bond

UnipolSai Assicurazioni S.p.A., the Italian primary insurance company, has returned to the catastrophe bond market to sponsor a new European earthquake catastrophe bond, with an Azzurro Re II DAC (Series 2020-1) transaction that targets at least EUR 100 million of reinsurance protection against quake losses for the insurers' Italian portfolio. This read the full article →

PERILS adds 66% to October 2016 Italy quake loss, now EUR208m

The insurance and reinsurance industry loss estimate for the series of earthquakes which hit Central Italy between the 26th and 30th October 2016 has risen significantly again, as PERILS AG added another 66% to the total industry bill, taking it to EUR 208 million. It's the second significant increase in loss read the full article →

Umbria Italy quake loss hiked 64% to EUR108m, just 1.5% insured

The insurance and reinsurance industry loss from the deadly M6.2 earthquake that struck Italy, near the Umbrian town of Norcia in August 2016 has been increased by 64% to EUR 108 million, but that still only leaves 1.5% of the economic impact covered, according to catastrophe loss data aggregator PERILS read the full article →

PERILS raises October Italy quake loss estimate 300% to EUR125m

PERILS AG has raised its property insurance and reinsurance industry loss estimate for the series of earthquakes which hit Central Italy between the 26th and 30th October 2016 by over 300%, from the initial estimate of EUR 31 million to a figure of EUR 125 million. It's a big increase, but read the full article →

PERILS puts October Italy quake insured loss estimate at EUR31m

The series of earthquakes which hit Central Italy between the 26th and 30th October 2016 are estimated to have caused a property insurance and reinsurance market loss of just EUR 31 million by industry loss data provider PERILS AG. The earthquakes were the second damaging swarm to hit the Central region read the full article →

PERILS almost doubles Italy quake loss estimate to EUR66m

The development of the insurance industry loss caused by a devastating M6.2 earthquake which struck in August in Italy, near the Umbrian town of Norcia, has accelerated, with industry loss estimate provider PERILS almost doubling its figure to EUR66 million. The earthquake caused almost 300 deaths and damaged homes and businesses read the full article →

Italy quake insured loss estimated at just EUR34m by PERILS

Demonstrating the significant lack of earthquake insurance in Italy the first insurance industry loss estimate from PERILS AG for the event suggests an insured loss of just EUR34m, which is a paltry amount of property insurance loss for such a damaging event. The devastating M6.2 earthquake which struck in August in read the full article →

Italy quake insured losses not expected to exceed EUR200m: S&P

Gross insurance industry losses from the recent M6.2 earthquake in Umbria, Italy are not expected to exceed EUR200 million, according to rating agency Standard & Poor's, which believes that the low levels of insurance penetration in the region will keep losses down. It's a shockingly low number when you consider that read the full article →

10% of Italy earthquake economic loss to be re/insured: A.M. Best

Rating agency A.M. Best estimates that around 10% of the total economic losses from last week's devastating M6.2 earthquake in Umbria, Italy will be paid for by insurance and reinsurance markets, as low levels of insurance penetration limit the industries exposure. Last week's earthquake is now known to have killed around read the full article →