typhoon Faxai 2019

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Japan typhoon Faxai, Hagibis & rainfall claims rise 35% to $9.2bn: GIAJ

Japanese domestic insurers have now paid out roughly US $9.2 billion in claims related to typhoon Faxai, typhoon Hagibis and the heavy rainfall event that closely followed these storms, which is an increase of 35% on figures released in December by the General Insurance Association of Japan (GIAJ).In its latest read the full article →

Typhoon Hagibis loss development better than feared: Analysts

According to analysts, loss development from last year's Japanese typhoon Hagibis is not following the same path as 2018's Jebi, with the current prognosis being that development is much better than feared.After the industry-wide experience with 2018's typhoon Jebi and the resulting slow, creeping loss development, the insurance, reinsurance and read the full article →

Retro to help SCOR manage any increase in typhoon Hagibis loss

French reinsurance firm SCOR reported EUR 343 million of natural catastrophe losses in the fourth-quarter of 2019, after taking into account any recoveries from retrocessional reinsurance and before tax, with typhoon Hagibis the main driver.In announcing the results of its reinsurance renewals in January yesterday, SCOR said that typhoon Hagibis read the full article →

Demand surge said a factor in typhoon Hagibis claims, may elevate industry toll

Reports from and sources in Japan suggest demand surge is set to be an issue with claims from typhoon Hagibis, as a lack of claims professionals, assessors and loss adjusters has been noted to be slowing the process of insurance claims filing and is expected to inflate claims amounts.The fact read the full article →

Japanese cat bonds trade up as Jebi & Hagibis loss outlooks improve

Three tranches of catastrophe bonds exposed to Japanese typhoon wind damage have traded up around 10% in recent weeks, as the market's view of how large the eventual industry losses from typhoon Jebi and Hagibis will be has moderated somewhat.Both tranches of the $320 million Akibare Re Ltd. (Series 2018-1) read the full article →

Munich Re estimates typhoon Hagibis loss at $10bn, Faxai at $7bn

Global reinsurance giant Munich Re's NatCat service has released estimates for the industry insured losses from Japanese typhoons Hagibis and Faxai, pegging them at $10 billion and $7 billion respectively.Munich Re's estimate is the latest indicator that the ultimate industry loss from typhoon Hagibis may be much lower than had read the full article →

Japan typhoon Faxai, Hagibis & rainfall claims reach $6.83bn: GIAJ

The General Insurance Association of Japan (GIAJ) has updated its numbers on recent catastrophes, now saying that domestic insurers in the country have paid out US $6.83 billion in claims for typhoon Faxai, typhoon Hagibis and a heavy rainfall event that closely followed these storms.Typhoon Faxai claims payments have now read the full article →

Swiss Re says Hagibis is only an $8bn industry loss

Opinions differ dramatically when it comes to estimating industry insured losses from typhoon Hagibis it seems, with global reinsurance giant Swiss Re opting for just $8 billion.That's half the level of the highest end of risk modellers estimates (which extend up to $16 billion) and only slightly above the mid-point read the full article →

Typhoon Hagibis & Jebi losses said stabilising below top-end estimates

The market is increasingly confident that industry losses from recent Japanese typhoon Hagibis and also 2018's typhoon Jebi will ultimately stabilise below the top-end of estimates, good news for those that reserved conservatively and for those for who Jebi loss creep has been a significant issue.Reinsurance companies, insurance-linked securities (ILS) read the full article →

Industry facing $20bn+ loss from typhoons Faxai & Hagibis: Mapfre

Spanish insurance and reinsurance group Mapfre said it believes typhoons Faxai and Hagibis will drive more than US $20 billion of industry losses to the sector, while it expects to take a hit of around $156 million, including some impacts from recent rioting in Chile.The company, which operates reinsurance unit read the full article →