catastrophe losses News
Reinsurers’ Earnings Will Erode Further After 3rd Year of Major Claims: AM Best
Reinsurers' earnings are likely to see further erosion in 2019 after another year of major catastrophe losses, which is prolonging the positive momentum for reinsurance pricing, according to a new ...
Arch: Dorian, Faxai Caused Up to $75M in Pre-Tax Cat Losses
Arch Capital Group Ltd. disclosed pre-tax catastrophe losses of between $65 million and $75 million for the 2019 third quarter. Damages caused by Hurricane Dorian and Typhoon Faxai are largely to ...
Hurricane Dorian Insured Caribbean Losses Could Reach $3B: AIR Worldwide
Hurricane Dorian's impact on the Caribbean will cause $1.5 billion to $3 billion in insured losses, according to an estimate from Verisk-owned catastrophe modeling firm AIR Worldwide. Modeled loss ...
Carriers Experienced Costliest Two-Year Period Ever for Cat Losses: Aon
Global insured losses stemming from major wildfires, tropical cyclones and severe thunderstorms reached $90 billion in 2018, close to 50 percent higher than the annual average between 2000 and 2017, ...
Argo Group’s Net Income Drops and Combined Ratio Climbs
Argo Group International Holdings Ltd. reported a drop in net income and a spike in its Q2 2019 combined ratio, due to overseas and higher catastrophe losses. At the same time, rate increases helped ...
European Storms Took Economic, Insurance Toll in June: Aon
Severe European storms during June had an economic price tag of $2 billion, while insurers anticipated claims topping $1.5 billion, according to the latest edition of Aon's monthly Global Catastrophe ...
Boeing Crash, Storms, Floods Dent Swiss Re’s Q1 Profit
Reinsurer Swiss Re AG's reported an unexpected 6 percent fall in quarterly net profit on Friday as claims from large losses offset higher net premiums and a solid return on investments. Net profit ...
PG&E Pursues U.S. Court Sign-Off for $105M Fund to Aid Wildfire Victims
PG&E Corp on Wednesday sought court approval for a $105 million fund to help house victims of the wildfires blamed on the bankrupt California power provider. PG&E in a filing in U.S. ...