Residential Reinsurance 2008 Ltd

Insurer State Farm, has announced that it has already paid close to $1 billion in claims to policyholders for damage caused by severe thunderstorm, hail and tornado damage in late April and early May. If categorized as one event State Farm say the three most devastating outbreaks would be the seventh most costly homeowner loss […]

Risk modeller EQECAT are the first to announce an estimated insured loss figure for the tornado which struck the city of Joplin, Missouri yesterday. As we wrote yesterday, we suspected that the storm was going to contribute a sizeable loss to the aggregate losses which have been mounting in this record U.S. tornado season, and […]

The U.S. continues to be affected by severe thunderstorms and devastating tornadoes, the latest of which impacted the city of Joplin, Missouri yesterday. The BBC report that the city suffered a direct hit from a tornado leaving a trail of destruction and 30 people dead (Update: CNN now report at least 89 dead). CNN eye-witness […]

Estimates for damage caused by the severe thunderstorms and tornadoes at the end of April have been rising in recent days. The highest insured loss estimate we had heard was the one from AIR Worldwide who put losses at up to $5.5 billion for weather conditions between the 22nd – 28th April. Now Risk Management […]

The tornado and severe thunderstorm outbreak which struck southern and midwestern States in the U.S. between the 22nd to 28th April could cost as much as $5.5 billion in insured losses according to risk modeller AIR Worldwide. This estimate includes damage to residential, commercial and industrial properties and auto losses.

Two classes of catastrophe bond notes issued by Residential Reinsurance 2008 Ltd. and Residential Reinsurance 2009 Ltd. have been accumulating aggregate losses over the past year including some from recent severe thunderstorm events in the U.S. The Residential Re cat bonds were issued by USAA to provide them with cover for a range of perils […]