catastrophe losses News
‘Bomb Cyclone’ Blizzard Forces Some U.S. Grain Processors/Elevators to Close
A second "bomb cyclone" blizzard hitting the United States was limiting the movement and processing of corn, soybeans and wheat around the Midwest and Plains on Thursday. Grain trader Cargill Inc ...
U.S. Led the Catastrophe Pack With Major Flood Damage in March
Damage from flooding in March 2019 reached $8 billion from events across the globe, with much of the damage happening in the U.S., according to Aon's "Global Catastrophe Recap – March 2019." "The ...
Australia Floods Dominated February Catastrophe Events: Aon’s Impact Forecasting
Australia's Northern Queensland experienced widespread flooding from Jan. 26 to Feb. 7, which cost insurers more than A$893 million (US$635 million) with total economic losses of at least A$1.7 ...
General Insurance Blues: AIG Ended 2018 With Another Money-Losing Quarter
American International Group's road to profitability continues to be both slow and challenging. High catastrophe losses in the fourth quarter presented yet another obstacle. The property/casualty ...
CNA Says More Rate Hikes to Come After $84M Q4 Net Loss
CNA Financial Corp. lost $84 million in its 2018 fourth quarter, a result the Chicago-based property/casualty insurer blames on poor investment returns and catastrophe losses. At the same time, CNA ...
Chubb’s Q4 Net Income Nosedives; Investment Returns Surge, Premium Revenue Grows
Chubb's 2018 fourth quarter was a mixed bag, with a surge in catastrophe losses, but a growth in premium revenue, better global P/C pricing and record net investment income. The insurer booked $355 ...
W.R. Berkley’s Reinsurance Combined Ratio Worsens; Q4 Net Income Dips
W.R. Berkley Corp. ended 2018 with a decline in net income and worsening reinsurance combined ratio, thanks to higher catastrophe loss expenses. At the same time, insurance premiums and investment ...
Bermuda Market ‘Resilient’ Despite Higher Cat Losses, U.S. Tax Reform Changes: Fitch
Bermuda-based insurers and reinsurers continue to be tested by challenging market conditions, including heightened catastrophic losses and diminishing competitive advantage resulting from U.S. tax ...