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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 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 →

Typhoon Jebi industry loss now over $10bn: Sirius

Typhoon Jebi, a storm that made landfall in Japan on September 4th 2018, has become an outlier for loss creep in the country, with the insurance and reinsurance industry loss now said to have surpassed $10 billion.After typhoon Jebi struck Japan the main risk modelling firms gave estimates of $3 read the full article →

ILW triggers on watch for typhoon Jebi, hurricane Michael & wildfire losses

The industry loss warranty (ILW) market is waiting nervously for confirmed estimates of industry losses to emerge for a number of recent catastrophe events around the globe, with certain trigger points on-watch and further ILW losses possible in the coming weeks.The ILW market, which largely provides retrocessional forms of reinsurance read the full article →

Jebi officially the largest Japan typhoon insured loss ever

Typhoon Jebi has now officially become the largest Japan typhoon related insurance and reinsurance market loss on record, as the amount of insured claims paid for the storm have now reached almost $5.2 billion.The latest data from the General Insurance Association of Japan (GIAJ) shows that typhoon Jebi has now read the full article →

Rising typhoon Jebi loss suggests broader ILS exposure

Typhoon Jebi's impacts in Japan were always going to be a catastrophe loss event that would drive a modest amount of claims to some ILS funds and collateralised reinsurance vehicles, but with estimates rising for the industry impact, the expectation of ILS market losses is increasing as well.Yesterday morning reinsurance read the full article →

Japan faces more typhoon impacts as Trami approaches, 30W takes aim

Typhoon Trami will be the latest storm this typhoon season to impact Japan, as the Category 3 equivalent typhoon heads for the Ryukyu islands and Okinawa, after which it will hit the Japanese mainland.Japan has been hit by a number of typhoon and severe weather impacts in recent months, which read the full article →

Typhoon Jebi to cost re/insurers up to $5.5bn: RMS

Catastrophe risk modelling company RMS has put out an estimate of the insurance market loss from typhoon Jebi's impacts in Japan, saying it could be as much as $5.5 billion and that figure doesn't include everything.RMS's estimate of losses that insurance, reinsurance and some ILS markets will take from typhoon read the full article →