loss

Yesterdays two earthquakes, which were technically aftershocks of the September M7 quake and February event which devastated much of Christchurch, New Zealand, have been upgraded by the USGS to a magnitude 5.2 and a magnitude 6.0. Risk modeller EQECAT has issued a CatWatch report on this event and they estimate that the two earthquakes could […]

Insured losses from the flooding in Queensland, Australia have resulted in US$3.9 billion in claims so far according to the Insurance Council of Australia (ICA). The organisation revealed figures today showing that the insurance industry had assessed over 118,000 claims valued at AU$3.6 billion (US$3.9 billion).

Zenkyoren, the largest cooperative insurer in Japan and holder of one of the largest reinsurance programs in the country, has given a preliminary estimate of over $7.9 billion (around 650 billion yen) for losses incurred during the 11th March earthquake and tsunami disaster in Japan.

Bermudian reinsurer PartnerRe Ltd. has provided an initial estimate for the scale of losses it believes it will face due to the earthquake and tsunami on 11th March in Japan. They believe that the total net impact of these events will be approximately $500m, primarily in their catastrophe business.

Risk Management Solutions (RMS) have finally issued an insured loss estimate for the earthquake and tsunami disaster in northeast Japan on the 11th March. RMS estimate that insured property losses from the event will be between $18 billion to $26 billion. Adding in life and health claims they put the final insured loss at somewhere […]

Swiss Re have redeemed the €108m Class A tranche of Crystal Credit Ltd., their beleaguered catastrophe bond type deal which securitized payments related to an indemnity-based excess-of-loss retrocession agreement between Swiss Re and Crystal Credit. The transaction is a cat bond type deal which covered a defined portfolio of credit reinsurance treaties for Swiss Re.

Rating agency Moody’s has downgraded the notes of catastrophe bond Muteki Ltd. today as they believe the deal will be triggered (which we suggested was possible earlier) and they expect a total loss of principal to investors in the transaction. The $300m Series 2008-1 deal provided protection to Munich Re for certain reinsurance contracts they […]

We’ve received a number of reports over night from sources suggesting that the $300m Muteki Ltd. catastrophe bond, issued by Munich Re on behalf of Japanese cooperative Zenkyoren, has been triggered by the 11th March earthquake in Japan. The transaction is measured against the K-Net data, which we understood was still not complete, but sources […]

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, has issued its fourth and final update of its loss estimate for the European windstorm Xynthia which occurred on 28th February 2010. The PERILS loss reporting schedule dictates that the final loss reporting should be 12 months after the event.

Fitch Ratings are reported as saying (by Bloomberg here) that the final total for insured losses from the Deepwater Horizon oil rig disaster in the Gulf of Mexico may amount to $6B. Actual economic losses are estimated to be much, much higher at around $35B.