Major 8.7 earthquake strikes off Aceh in Indian Ocean, tsunami warning issued

A large earthquake has struck in the Indian Ocean off Indonesia's Aceh province, close to Sumatra. Originally classed at 8.9 it has now been downgraded to 8.7. A tsunami warning for the entire Indian Ocean region has been issued by the Pacific Tsunami Warning Centre. It's as yet uncertain whether read the full article →

2011 already the most costly for natural disasters, says Munich Re

Munich Re has published a report and data on the natural catastrophe loss events which have impacted the world and the reinsurance sector in the first half of 2011. To date, 2011 is now the most disastrous on record according to Munich Re, with total economic losses for the first read the full article →

Japan puts property damage from earthquake at $210 billion

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 read the full article →

Vita Capital IV Ltd. Series III mortality notes downgraded on tsunami risk exposure

Swiss Re's Vita Capital IV Ltd. mortality risk insurance-linked securities have had their rating downgraded by Standard & Poor's due to the perceived heightened exposure that tsunami's present to the transaction. Vita Capital IV Ltd’s Series III is an insurance-linked securitization which is exposed to increases in mortality in read the full article →

Atlas VI Capital catastrophe bond downgraded on Japan earthquake exposure

Another series of catastrophe bond notes, Atlas VI Capital Ltd. 2009-1 Class A, has had its rating downgraded due to exposure to the earthquake event in Japan, however in this case it's not due to exposure to the 11th March M9.0 earthquake, rather it is due to exposure to two read the full article →

EQECAT raise Tohoku earthquake insured loss estimate

Risk modeller EQECAT have issued an update to their estimate of the insured loss due to the Tohoku earthquake which struck Japan on the 11th March causing massive damage from the widespread shaking and tsunami that followed. Now, almost two months after the earthquake, they have had time to gather read the full article →

Zenkyoren loss estimate up to $7.9 billion for Japanese earthquake

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. Reinsurers have been watching the estimates read the full article →

RMS estimates total insured loss from Japanese earthquake at $21bn to $34bn

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 read the full article →

Another M7.1 earthquake aftershock in Japan

Japan has suffered another M7.1 aftershock which has hit in the Fukushima area with the epicentre onshore. Buildings swayed in Tokyo where some train lines have been stopped and the runway at Narita airport was checked for damage. The Fukushima nuclear power plant was again evacuated and checks are being read the full article →

Strong earthquake aftershock strikes northeast Japan

A significant aftershock has struck the northeast of Japan within the past hour. The earthquake was said to be between 7.1 and 7.4 on the richter scale, to put that into perspective it is about 1,000 times less powerful than the earthquake on the 11th March in the same region. However, read the full article →