typhoon Hagibis 2019

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Hagibis loss creep may not emerge until after April renewal, some fear

There are fears in the market that typhoon Hagibis is going to end up repeating what was seen with last year's typhoon Jebi, with loss creep emerging after the April reinsurance renewal again, potentially to the detriment of those hoping for significant rate increases.A number of sources have said that read the full article →

Stone Ridge Interval ILS fund down roughly 5% since typhoon Hagibis

The share price for the interval-style mutual insurance-linked securities (ILS) fund operated by Stone Ridge Asset Management has now declined by almost 5% since the impact of typhoon Hagibis in Japan.The Stone Ridge Reinsurance Risk Premium Interval Fund, which invests across the spectrum of ILS and collateralised reinsurance assets, including read the full article →

AXIS estimates typhoon Hagibis loss of up to $110m

Bermudian specialist insurance and reinsurance firm AXIS Capital Holdings Limited has estimated its losses from recent Japanese typhoon Hagibis at somewhere between $90 million and $110 million, net of accounting for recoveries from reinsurance and retrocession.AXIS Capital has set its loss reserve estimate based on an expected insurance and reinsurance read the full article →

CATCo sees 25% Hagibis, Faxai & Dorian hit to 2019 capital deployed

Retrocessional reinsurance focused investment manager Markel CATCo Investment Management expects that the combined impacts of recent catastrophe events typhoon Hagibis, typhoon Faxai and hurricane Dorian will result in a roughly 25% impact to capital deployed in the 2019 portfolio of its listed fund.Markel CATCo has today revealed its potential exposure read the full article →

Typhoon Faxai payments near $2.5bn, Hagibis claims still mounting: GIAJ

The General Insurance Association of Japan (GIAJ) has reported that already domestic insurers in the country have paid out just under US $2.5 billion for claims from typhoon Faxai, while for more recent typhoon Hagibis the claims are still mounting up.Insurance and reinsurance industry loss estimates still suggest a total read the full article →

MS&AD puts Hagibis & Faxai loss at $3.36bn, total across big-three $8bn

MS&AD Holdings, the Japanese parent to domestic insurance carriers Mitsui Sumitomo and Aioi Nissay Dowa Insurance, as well as its international operation MS Amlin, has revealed today that it expects its ultimate loss from typhoons Hagibis and Faxai will be approximately US $3.36 billion, before reinsurance recoveries.The company has estimated read the full article →

AIG’s Japan occurrence reinsurance & Validus’ retro exposed to typhoons

Analysts at Keefe, Bruyette & Woods (KBW) have agreed that insurance giant American International Group's (AIG) per-occurrence reinsurance tower is at-risk of losses following typhoon's Faxai and Hagibis, while today the insurer's executives said that Validus' retrocession could also be exposed.KBW said a few days ago that it believes it read the full article →

RMS puts typhoon Hagibis loss estimate at max $11bn

Catastrophe risk modelling specialist RMS has now published an estimate for the insurance and reinsurance market impact of recent Japanese typhoon Hagibis, estimating the industry losses at between $7 billion and $11 billion.With a mid-point of $9 billion, RMS's estimated range for the insurance market-wide loss caused by typhoon Hagibis read the full article →

Faxai loss to near $10bn, Hagibis $15bn, climate change a factor: RenRe CEO

The CEO of reinsurance firm RenaissanceRe said that his company believes typhoon Faxai could drive as much as a $10 billion industry loss, while the more recent typhoon Hagibis could a roughly 50% larger bigger at approximately $15 billion.The figures are certainly at the higher-end of current industry estimations (or read the full article →

RenRe & Markel expect typhoon Hagibis losses to eclipse Faxai

Company specific loss estimates from leading insurance and reinsurance firms for recent typhoon Hagibis appear to confirm that the industry impact of that storm are going to eclipse that of the other recent Japan typhoon Faxai.Typhoon Faxai was first to strike Japan in early September, leading to a forecast for read the full article →