natural catastrophe losses News
Wildfires Halt L.A. Filming, Threaten Crops, Hammer Major Utility’s Market Value
Wildfires raging across Southern California have shut a major commuter artery in Los Angeles, suspended filming, wiped out more than $3 billion of market value for regional utility Edison ...
Berkshire Hathaway Likely to Report Big Q3 Claims Costs—and Reduced Insurance ‘Float’
The insurance business has been good to Warren Buffett. For decades, his stable of carriers at Berkshire Hathaway Inc. have provided him billions of dollars to invest. They've also turned an ...
After Historic Storms, Insurers May Not Be Able to Price Their Way Back
The worst hurricane season in modern U.S. history is starting to look like a blip on the charts of insurance stocks, with investors banking on a quick restoration of capital as firms rediscover ...
XL Group Lost Over $1B in Q3: Hurricanes Harvey, Irma, Maria to Blame
XL Group reported losses exceeding $1 billion for the 2017 third quarter, blaming hurricanes Harvey, Irma and Maria for the results. The net loss of $1.04 billion for Q3 amounted to negative-$4.06 ...
Calif. Wildfires Kill 11, Prompt Massive Evacuations, Damage Prime Vineyards
Wildfires that tore through northern California's iconic wine-growing regions have prompted evacuations of more than 20,000 people, killed 11 and damaged some of the most valuable vineyards and ...
Munich Re Warns Harvey, Irma Storms Could Erase Q3 Profit, Challenge 2017 Target
Munich Re, the world's largest reinsurer, said storms led by Hurricanes Harvey and Irma will probably wipe out third-quarter profit and threaten the company's ability to meet its full-year earnings ...
$22B in H1 Insured Losses Stem Largely From U.S. Storms: Impact Forecasting
Insured losses for natural disaster totaled $22 billion during the first six months of 2017, with the cost stemming in large part from U.S.-focused, hail, heavy winds and tornadoes. Aon Benfield's ...
Bermuda Insurers, Reinsurers Hammered by Ogden Rate Change, More Natural Catastrophe Losses
A big change in the Ogden rate and higher natural catastrophe losses are dampening a wide range of Bermuda-based insurer and reinsurer results in the 2017 first quarter, Standard & Poor's said in ...