Japan earthquake News

Soft Prices May Bring Reinsurer Losses when Typical Cat Levels Return: Execs

It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …

Natural Catastrophes Drive Global Insured Losses to $31B in H1: Swiss Re’s Sigma

Global insured losses from natural catastrophes and man-made disasters during the first half of 2016 reached US$31 billion, or 44 percent of total economic losses of US$71 billion, according to a report issued by Swiss Re’s sigma. The economic loss total …

Lloyd’s Insurer Chaucer Expects Underwriting Loss During Q2 2016

The impact of catastrophes, large loss activity and foreign exchange movements are expected to bring an underwriting loss for Chaucer in the second quarter, when it will report a combined ratio in the range of 103 to 105 percent, according …

Storms & Earthquakes Drive Up Insured Losses in 1H 2016: Munich Re

Economic losses caused by natural catastrophes in the first half of 2016 totaled US$70 billion, a significant increase from the $59 billion reported for the first half of last year, according to a loss review issued by Munich Re. While …

Chubb Estimates Q2 Cat Losses to Rise 54% from Q1 2016

Property and casualty insurer Chubb Ltd. estimated natural catastrophe losses for the second quarter to be about 54 percent higher than the first quarter, indicating another quarter of high losses due to natural disasters for insurers. Multiple weather events in …

Natural Disaster Losses Hit Five-Year High in April: Aon Catastrophe Report

The global economy suffered the worst April natural disaster losses for five years, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Earthquakes, convective storms and flooding contributed to the worldwide devastation, said Impact Forecasting, noting that a significant proportion of …

Economic Property Damages of Japan Earthquakes to Cost $2.5B-$3.5B: RMS

RMS, the Newark, Calif.-based catastrophe risk management firm, estimated that economic property damage for both the April 15 moment magnitude (Mw) 7.0 earthquake and April 14 Mw6.4 earthquake in Japan’s Kumamoto Prefecture to be between $2.5 billion and $3.5 billion. …

Japanese Earthquakes Could Cost Insurers $2.9 Billion: AIR Worldwide

An earthquake that struck southern Japan on April 16 will probably cost insurers as much as 320 billion yen ($2.9 billion), according to catastrophe modeler AIR Worldwide. The cost might be as low as 180 billion yen, the company said …

Death Toll Rises from Japanese Earthquakes; Supply Chain Disruptions Examined

The death toll from earthquakes that struck southern Japan rose to 42 and the economic impact began to reverberate Monday as companies surveyed damage and the potential effects on production from supply-chain disruptions. The quakes that struck the island of …

Sony’s Camera Chip Factory Halts Production After Japan Temblor; AIR Comments

The earthquake in southern Japan that killed nine people, damaged buildings and derailed a bullet train also halted production at a Sony Corp. camera-chip factory, a key part of the global smartphone supply chain. The plant in Kumamoto on the …