catastrophe losses News
Historic Catastrophe Losses Blamed for Slump in Travelers’ Profit
This week, Travelers Companies Inc. reported a 98 percent fall in quarterly profit, as severe wind and hail storms in parts of the United States pushed up its catastrophe losses. Core income of the ...
2022 In Review: It Was Bad
The year 2022 is in the books for most U.S. property/casualty insurers as the days tick down to statutory filing deadlines. Putting the numbers together, AM Best revealed just how bad the aggregate ...
La Nina, Stuck Jet Stream Blamed for Unusually Warm Weather
America's winter wonderland is starting out this season as anything but traditional. The calendar says December but for much of the country temperatures beckon for sandals. Umbrellas, if not arks, ...
Travelers’ High Q3 Investment Returns Counter Catastrophe Loss Surge
Property and casualty insurer Travelers Cos Inc reported a drop in third-quarter profit on Tuesday that still beat estimates, as higher investment returns mainly from its non-fixed income portfolio ...
Hurricane Ida, Europe Floods Will Ding Q3 Results for RenaissanceRe, Arch Capital
RenaissanceRe Holdings Ltd. estimated losses from certain catastrophe events will have a net negative impact of approximately $725 million on the company's third quarter 2021 results. This estimate ...
Tokyo Struck by Strongest Earthquake Since 2011; Injuries Reported
A magnitude 5.9 earthquake struck near Tokyo late Thursday, rattling parts of the capital the most since the March 2011 disaster. Few train services remained disrupted the next morning, while some ...
Hurricane Ida Will be Historically Costly – One for the Record Books
Hurricane Ida will likely become one of the costliest U.S. mainland hurricanes on record both on a nominal and inflation-adjusted basis, according to Aon's monthly Global Catastrophe Recap report, ...
Reduced Insurance Cover Leaving Offshore Operators With Big Ida Losses
Offshore energy firms are likely to face greater financial losses from Hurricane Ida than from previous storms in the Gulf of Mexico, because of reduced coverage offered by insurers, risk modeling ...