typhoon Hagibis 2019

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Some ILS funds see adverse typhoon Hagibis development in June

A handful of insurance-linked securities (ILS) funds invested into collateralised reinsurance positions have experienced some further adverse development related to 2019's Japanese typhoon Hagibis in June, we understand. The adverse development has been sufficient to drive a few ILS fund positions negative for the month of June 2020, we've learned, as read the full article →

Typhoon Faxai, Hagibis & rain claims pass $10bn for Japan’s insurers: GIAJ

Claims paid by Japanese domestic insurance firms after the impacts of 2019's typhoon Faxai, typhoon Hagibis and the heavy rainfall event that closely followed these storms have risen by more than 6%, reaching $10.04 billion, according to the General Insurance Association of Japan (GIAJ). As is typical, Japanese primary insurers have read the full article →

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 →

Everest Re expects $215m catastrophe & $50m crop losses in Q4

Global insurance and reinsurance group Everest Re has pre-announced an expectation of a $215 million catastrophe loss hit and a further $50 million hit from its crop reinsurance book in the fourth-quarter of 2019. Ahead of its results Everest Re has joined the group of companies pre-warning of the expected hits 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 →

Chubb expects $453m Q4 catastrophe & crop losses after reinsurance

U.S. and global primary insurance carrier and reinsurance company Chubb has announced an expected fourth-quarter pre-tax and net of reinsurance hit of $430 million from catastrophe losses and an additional $23 million of losses from U.S. agricultural lines which were hit be weather-related poor growing conditions. Demonstrating that the fourth-quarter of 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 →