typhoon Jebi 2018

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Loss creep evident in combined $14.5bn Jebi, Trami, Japan rains claims from GIAJ

Reported claims figures for the typhoons and extreme rainfall event that struck Japan last year have risen significantly, with the latest figures from the General Insurance Association of Japan (GIAJ) totalling over US $14.5 billion.The insurance and reinsurance industry losses from these three Japanese events have escalated so far this read the full article →

Typhoon Jebi industry loss may settle at $15bn to $16bn: Analysts

The insurance and reinsurance industry wide loss from Japanese typhoon Jebi looks destined to rise even further, with analysts saying that industry participants they met with recently in Bermuda have suggested the loss may settle at between $15 billion to as much as $16 billion.The industry loss from the most read the full article →

Jebi nears $13bn, why industry missed the loss creep: Swiss Re CFO

Global reinsurance firm Swiss Re strengthened its typhoon Jebi loss reserves in the last quarter and the firms CFO John Dacey said that the company puts the industry loss from the storm at close to $13 billion now.Dacey also explained why the company believes the reinsurance industry missed the loss read the full article →

Market missed typhoon Jebi BI, industry loss now up to $13bn: Grandisson, Arch

Bermudian insurance and reinsurance group Arch Capital believes the industry loss from typhoon Jebi could now be as high as $13 billion and its CEO Marc Grandisson said that the market missed the business interruption and contingent BI exposures.Reinsurance market sources had already suggested to us that the industry loss read the full article →

SCOR’s results confirm Japanese typhoon loss creep trend from Jebi & Trami

Results announced this morning by global reinsurance firm SCOR confirm the loss creep trend we're expecting to see from Japanese typhoons Jebi and Trami, as the company revealed a EUR 53 million hit to profits.Yesterday, Bermudian insurance and reinsurance firm AXIS Capital revealed a $30 million Japan typhoon loss creep read the full article →

ILW payouts on the cards after typhoon Jebi loss estimate rises

Typhoon Jebi has already become the loss creep story of 2019 so far, but it's set to become an even higher profile case as a rising industry loss estimate for the storm means it's now expected that a number of industry loss warranty (ILW) contracts will payout.We understand that one read the full article →

Typhoon Jebi industry loss moving closer to $12bn

Reinsurance market sources are suggesting that the industry loss from typhoon Jebi in Japan will get closer to $12 billion, as loss creep continues from what is the most costly typhoon event to ever hit the country.Previously, Property Claim Services (PCS) gave its first official estimate for typhoon Jebi, having read the full article →

Japanese wind & aggregates see biggest April renewal rate rises

The April reinsurance renewals in Japan look set to deliver their largest rate increases to wind and aggregate layers of reinsurance towers, with severely loss impacted lower layers of programs seeing rises of 20% to 30%, we're told.Underwriting market sources said that negotiations are completed for many Japanese reinsurance renewals read the full article →

Loss affected P&C rates to rise 10%+ in Asia: Willis Towers Watson

Catastrophe loss affected property and casualty insurance accounts are expected to rise by at least 10% in Asia through 2019 according to the broker, a forecast which bodes well for upcoming reinsurance renewals in Japan and the region.Insurance and reinsurance broking group Willis Towers Watson provides insights into Asian commercial read the full article →

Some “significant price increases” expected at April 1 renewal in Japan: JMP

Reinsurance rates for Japanese accounts are expected to broadly rise at the upcoming April 1st renewals, with some price increases expected to be "significant" while more broadly there is a hope for widespread double-digit rate improvements.JMP Securities analysts visited Japan in advance of the April renewal season to discuss market read the full article →