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2016 re/insurance industry disaster losses put at $49bn by Swiss Re

Insurance and reinsurance industry losses from natural catastrophes and man-made disaster events during 2016 are expected to come out at around $49 billion by Swiss Re, up by 33% on 2015 but slightly below the 10-year average. The gap between total losses and the amount covered by insurance and reinsurance is read the full article →

SCOR grows its catastrophe & mortality contingent capital facility

French reinsurance company SCOR has announced the issuance of a new three-year contingent capital facility that will provide the company with EUR 300 million of cover against losses from natural catastrophe and extreme mortality events. The contingent capital deal provides SCOR with a EUR 300 million contingent equity line that can read the full article →

Catastrophes drive higher insured and economic losses in H1: Swiss Re

Economic losses from natural and man-made catastrophe events in the first-half of 2016 totalled an estimated $71 billion, of which $31 billion, or roughly 44% was insured, an increase of 51% compared to the prior year, says reinsurance giant Swiss Re. Natural disasters made up the majority of both economic and read the full article →

$30bn insured, $98bn economic, natural disaster losses in H1: Aon Benfield

The first-half of 2016 has seen both insured and economic natural disasters come in above the long-term average, with the insurance and reinsurance industry on the hook for $30 billion of a total $98 billion economic impact, according to Aon Benfield. Global insurance and reinsurance industry losses from catastrophes, natural disasters read the full article →

$27bn of global insured cat losses in H1, above 30-year avg: Munich Re

Global reinsurer Munich Re has revealed that global, total losses from catastrophe events in the first-half of 2016 amounted to $70 billion, of which $27 billion was insured. Both overall and insured losses were above the inflation-adjusted average for the last 30 years, says Munich Re. Losses from natural disasters across read the full article →

Another billion dollar week of U.S. severe weather losses: Aon

The past week is set to result in another economic loss of over $1 billion, due to severe convective and thunderstorm weather in the U.S., where the resulting strong winds and hail, with insurance industry losses in the hundreds of millions, according to Aon. The month of March saw over $2 read the full article →

March US thunderstorm, hail, floods insured loss estimate $2bn: Aon

The insurance and reinsurance industry is set to find itself paying for an estimated $2 billion of losses due to severe thunderstorm, or convective storm, weather and resulting hail damage and floods in March, according to broker Aon. Aon Benfield’s catastrophe model development team Impact Forecasting, estimates that severe convective weather read the full article →

Record loss frequency in 2015, but only $37bn insured: Swiss Re

In 2015 only $37 billion or 40% of global catastrophe and man-made disaster losses were covered by insurance and reinsurance, according to Swiss Re, representing a coverage gap of 60% and presenting an opportunity to the industry. 2015's global insured losses from natural catastrophe and man-made disaster events were significantly below read the full article →

El Niño research can aid optimisation of climate risk pooling

New research into the global impacts of El Niño conditions claims to assist with the optimisation of climate risk pooling facilities, providing an opportunity for insurers, reinsurers, and insurance-linked securities (ILS) players to expand their reach and diversify. Pradipta Parhi, a graduate research assistant in Columbia’s Department of Earth and Environmental read the full article →

Australian summer catastrophe losses rise to $550m: ICA

Natural catastrophe and severe weather events during the summer months in Australia have now caused over AUD $550 million (USD $415m) of insurance and perhaps reinsurance industry losses, according to the Insurance Council of Australia. The four events, the Pinery bushfires in South Australia (November 26), the Sydney tornado (December 17), read the full article →