Catastrophe News

Carpenter Launches New Version of Client Portfolio, Risk Management Platform

Guy Carpenter & Co. announced the launch of GC AdvantagePoint® 2.0, the latest release of its client portfolio and risk management platform. With GC AdvantagePoint 2.0, clients are able to easily leverage the technology to make strategic decisions through the …

Magnitude 6.7 Earthquake Jolts India, Bangladesh: AIR Worldwide

A magnitude 6.7 earthquake hit northeast India near its border with Myanmar and Bangladesh on Jan. 4 at 4:35 a.m. local time, about 29 kilometers (18 miles) northwest of Imphal, the capital of Manipur state, according to catastrophe modeling firm …

Global Cat Losses in October Likely to Top $10 Billion: Impact Forecasting Report

Global catastrophe losses in October are expected to top $10 billion, according to a report from Impact Forecasting, Aon Benfield’s catastrophe model development unit. A record 22 global tropical cyclones have now developed in the Northern Hemisphere during 2015, said the …

New ILS Records Set During 12 Months Ended June 30: Aon Securities Report

Annual catastrophe bond issuance reached $7.0 billion – a decrease on the record-breaking prior year ($9.4 billion), yet still the third highest annual issuance in the sector’s history, according to Aon Securities, the investment banking division of Aon Benfield. Twenty-five …

RMS and Taiwan’s MSIG Mingtai Collaborate on Typhoon Risk Insights

RMS, the Newark, Calif.-based catastrophe risk management firm, has formed a technical collaboration with MSIG Mingtai Insurance Co. Ltd. to share industry information and insight about the local Taiwanese insurance market, as RMS develops a typhoon model for Taiwan. The …

Insurers Unlikely to Be Impaired by Claims From Tianjin Port Explosion: S&P

Insurers are unlikely to be impaired by the loss claims from the explosions in the Chinese Port of Tianjin last week, according to a report from Standard & Poor’s. “Based on our initial investigation, we expect most of the affected …

A.M. Best Places 2 Chinese Insurers’ Ratings Under Review After Tianjin Blast

As a result of losses resulting from the recent explosions at Tianjin port, A.M. Best has placed under review with negative implications the financial strength rating of two Chinese insurers, which have large exposures to the losses of their motor vehicle …

Port of Tianjin Blast Highlights Growth of Accumulation Risks: IUMI

The explosions that recently devastated the Port of Tianjin highlight the danger of accumulation risks – when a single event causes an exceptionally large group of related losses, said the International Union of Marine Insurance (IUMI). IUMI President Dieter Berg …

UPDATE: Tianjin Blast Claims Could Top Estimates, Strain Chinese Insurers

Insurance claims from the devastating explosions at the Chinese port of Tianjin last week could exceed initial estimates and strain the finances of regional insurers, credit ratings agency Fitch said on Tuesday. Credit Suisse analysts estimated that total insurance losses …

A.M. Best: Sanctions Removal to Attract Re/Insurers to Iranian Market

The lifting of trade restrictions placed on Iran may present significant opportunities for the Middle East and North African (MENA) re/insurance market, with European participants also expected to re-engage and seek a foothold in the country, according to research published …