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Further earthquake aftershocks in Italy increase insured losses

A number of damaging earthquake aftershocks struck northern Italy yesterday in the same area which was hit by a magnitude 6.0 quake just over a week ago on the 20th May. Yesterday saw an M5.8 earthquake occur followed by two M4.7 aftershocks, then an M5.4 and an M5.1 according to read the full article →

No major losses expected from Italy earthquake

The magnitude 6.0 earthquake which struck northern Italy in the early hours of Sunday morning is not expected to produce major insurance losses as it occurred in an area where personal property insurance uptake rates are very low. The quake is the largest to have struck Italy since the 6.3 read the full article →

2011 U.S. crop insurance losses approach $11 billion

Back in January we wrote that U.S. crop insurance losses had hit record levels of $9 billion for the year 2011, with much of those losses attributed to freezing weather across the Southern U.S. states, droughts in the Plains, flooding along the Mississippi river, severe rainstorms and hail from severe read the full article →

Nelson Re catastrophe bond extended again

The confusion around whether the Nelson Re catastrophe bond from Glacier Re is going to make a payout to investors continues after the deal was extended again a couple of days ago. This document from the Cayman Islands Stock Exchange shows that an extension notice was submitted on the 28th read the full article →

Alterra Capital reports loss from Muteki catastrophe bond

Alterra Capital Holdings, the insurance and reinsurance group formed from the merger of Max Capital and Harbour Point, has announced its third quarter 2011 results (which show solid performance in a not particularly easy market). One item in the results press release is particularly of interest to Artemis readers, their read the full article →

PartnerRe’s losses from insurance-linked securities reach over 10% of annual loss

You may recall that we wrote about Bermudian reinsurer PartnerRe's losses from their insurance-linked security investments a number of times earlier this year. After some of the major catastrophes in the first half of 2011, PartnerRe disclosed the amount of losses they were facing from their ILS investment portfolio.First they read the full article →

Details on the Mariah Re catastrophe bonds mark to market losses

As we wrote yesterday, the Mariah Re catastrophe bonds were the main losers in the secondary market during the month of September as mark to market losses increased due to the realisation that there would be a loss of investor principal for the Series 2010-2 notes and covered losses were read the full article →

Reinsurers take the burden for Australia and New Zealand catastrophes

Aon Benfield have estimated that insurers in Australia and New Zealand have recovered as much as $16 billion of their catastrophe losses caused by disasters during 2010 and 2011 from reinsurers. They say this shows how reinsurance has supported these insurers and the reinsurance market has remained effective as nearly read the full article →

RMS puts hurricane Irene insured loss estimate at $2.5 billion to $5.5 billion

Risk Management Solutions (RMS) have published an estimate of insured losses resulting from the recent hurricane Irene. Their estimate only includes wind and surge impacts covering both the U.S. and Caribbean, so doesn't include any inland flooding from heavy rainfall or any National Flood Insurance Program losses from surge and read the full article →

Nelson Re catastrophe bond investors no longer facing losses, or are they?

Some confusion has come to light over the Nelson Re Ltd. catastrophe bond which was thought to have been triggered and to have lost close to $27m of investors principal. Back in July, sponsor Glacier Re had reported a proof of loss which would have seen investors only recover 60.6% read the full article →