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Japanese insurer losses from July rains & floods rise into the billions

The losses suffered by Japanese insurance firms after the extreme rainfall and flooding in July are rising into the billions of dollars, with leading companies having reported their losses recently and claims already paid having surpassed $715 million.The rainfall in early July caused at least 200 deaths in Japan, as read the full article →

Japan flood losses estimated as in the billions: JLT Re

The recent devastating flooding in Japan which is now reported to have caused at least 200 deaths and the flooding of thousands of homes and commercial properties is expected to cause industry losses in the billions of U.S. dollars, according to reinsurance broker JLT Re.Japan was struck by its worst read the full article →

Japan flooding among “worst weather disasters” to hit country

Japan has been hit by torrential rainfall in recent days resulting in some of the worst flooding seen in history, with now more than 125 people confirmed as having died in the event and widespread damage to homes and businesses.Meteorological authorities said that the flooding in the west and south-west read the full article →

New cat bond lowered costs, first to cover floods in Japan: MS&AD

Japanese insurance group MS&AD Insurance Group Holdings hailed the completion of its latest catastrophe bond, the $320 million Akibare Re Ltd. (Series 2018-1) deal, saying that it marks the first Japanese cat bond to feature pure flood exposure and also highlighting that by jointly sponsoring the transaction, its insurers lowered read the full article →

MS&AD’s Akibare Re 2018 cat bond secures $320m at lowest pricing

Japanese insurance group MS&AD Insurance Group Holdings looks set to secure a new $320 million source of capital markets backed reinsurance protection at efficient pricing, as its latest catastrophe bond, the Akibare Re Ltd. (Series 2018-1) deal, secures the maximum targeted size at the lowest targeted pricing level.The Akibare Re read the full article →

Akibare Re 2018 cat bond target rises to $320m for MS&AD insurers

The Akibare Re Ltd. (Series 2018-1) catastrophe bond transaction looks set to increase in size thanks to investor demand, with the targeted issuance size rising to $320 million of coverage for the two sponsoring ceding insurers from MS&AD Insurance Group Holdings.This latest Akibare Re cat bond transaction launched to the read the full article →

Akibare Re 2018 cat bond seeks $225m coverage for MS&AD insurers

A new catastrophe bond transaction has been launched to benefit two companies of Japanese insurance group MS&AD Insurance Group Holdings, with a $225 million Akibare Re Ltd. (Series 2018-1) transaction that seeks to secure the sponsors a source of collateralized multi-peril reinsurance cover for three perils.The previous Akibare Re transactions read the full article →

Mitsui Sumitomo to issue catastrophe bonds for Japanese corporates

According to a report, Japanese primary insurance group Mitsui Sumitomo Insurance has launched a service that issues catastrophe bonds for corporations and non-financial companies, from energy utilities to factories, to provide capital markets backed insurance protection.Typically catastrophe bonds are issued to provide reinsurance or retrocessional reinsurance protection for insurers or reinsurers, read the full article →

Kumamoto quake residential insurance claims paid hits $3.2bn

Around $3.2 billion of insurance claims for damage to dwellings from the earthquakes that struck the Kumamoto region of Kyushu, Japan in April, have now been paid, according to data from the GIAJ, as the insurance and reinsurance industry toll rises, but at a steadier pace.As of 27th June 2016, read the full article →

Kumamoto quake insured loss to reach $4bn, claims paid rises again

The figure reported for insurance and reinsurance industry losses due to claims paid for damage to dwellings from the earthquakes that struck the Kumamoto region of Kyushu, Japan in April has risen again and the total re/insurance industry loss is now expected to by over $4 billion.As of the latest read the full article →