catastrophes News
Catastrophes Cost Insurers $89 Billion in 2020: Swiss Re’s Sigma
Natural and man-made catastrophes cost the insurance industry $89 billion in 2020 – the fifth costliest year since 1970, according to a report from Swiss Re's sigma. Of that total, $81 billion ...
P/C Insurer Net Income Plunged 27% Through September 2020, Pushed by Catastrophes
U.S. property/casualty insurance net income dropped by more than a fourth in the first nine months of 2020 as the industry was hammered by COVID-19 and an historic catastrophe season, according to a ...
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 ...
How InsurTech Can Improve Catastrophe Response
I have been on the catastrophe front lines. I have worked 12-hour days, seven days a week, for weeks on end estimating and paying for losses to ensure people had money to start repairing their ...
Philippines Explores Plan to Sponsor Catastrophe Bond Issue
The Philippines' finance ministry said on Sunday it was exploring a plan to sponsor a catastrophe bond issue, similar to the one launched by the World Bank early this year covering Latin American ...
Cold Weather, Winter Storms Created Feb/March Damage and Turmoil: Aon Benfield
Severe cold weather and a winter storm that affected large parts of Europe during the second half of February and early March caused business interruption and other damages surpassing hundreds of ...
Q3 Catastrophe Fallout: XL Group’s Fitch Ratings Outlook Turns Negative
XL Group got smacked with a negative ratings outlook from Fitch Ratings, thanks to pre-tax natural catastrophe losses in Q3 that hit $1.48 billion. Fitch said it revised the ratings outlook to ...
Q3 Catastrophes Haven’t Turned Investors Away From ILS Market: Willis Towers Watson
ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, ...