losses

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% of the $67.5m tranche of […]

It looks like the final loss attributable to the Nelson Re catastrophe bond will not be known until at least December as the $67.5m Class G notes have had their maturity extended to the 6th December 2011 according to an announcement from Glacier Re. We updated you in July on the losses suffered by Nelson […]

The U.S. NOAA’s National Weather Service has published a report looking at the natural disasters which hit the U.S. so far this year. As our readers will be aware, this year is heading towards records for insured losses from natural disasters around the globe, and the U.S. has been pretty badly hit. The report says […]

Aon Benfield’s catastrophe model development arm Impact Forecasting, have published their July 2011 Monthly Cat Recap report which looks at the natural catastrophes that occurred over the course of the month around the world.

The final losses attributable to the Nelson Re Ltd. catastrophe bond, which was issued on behalf of sponsor Glacier Re (who are now in run-off) back in 2008, are becoming clearer today after Moody’s issued a ratings affirmation and update regarding the transaction. Nelson Re was impacted by losses from 2008’s hurricane Ike which caused […]

Aon Benfield have published their Monthly Cat Recap Report for June which is put together by their Impact Forecasting catastrophe modelling and analysis arm. The monthly updates provide a useful review of the events around the globe which will create losses for re/insurers.

The Japanese Cabinet office has released an estimate this morning for the economic property losses caused by the 11th March earthquake and tsunami disaster. They estimate that the quake and tsunami destroyed buildings and infrastructure worth around $210 billion. The estimate excludes any costs related to the Fukushima nuclear disaster aside from damage to the […]

Net underwriting losses for U.S. property/casualty insurers grew to $4.5 billion in Q1 2011 from $1.8 billion a year earlier as their combined ratio deteriorated to 103.3% according to figures from the ISO and the Property Casualty Insurers Association of America (PCI).

Allstate are the latest U.S. insurer to announce massive losses due to the severe weather which hit the U.S. midwest and south during April and May. Being the largest home and auto insurer in the U.S. their losses were always going to be meaningful. The period of severe thunderstorms which spawned record breaking numbers of […]

U.S. property and casualty insurer The Travelers Companies has announced that it expects to face insured losses of over $1 billion for the severe weather experienced in the U.S. during April and May. The estimate reflects losses from the severe thunderstorms across the Midwest and Southeast U.S. which spawned many tornadoes and severe hail storms.