Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Swiss Re Estimates Hurricane Jeanne Claims at Around $150 Million
Oct 7 2004 // Swiss Re announced that, based on current estimates, it expects claims related to Hurricane Jeanne to be approximately $150 million before tax. The bulletin noted that Jeanne was the “fourth hurricane to make...
Everest Re Holdings Estimates Hurricane, Typhoon Losses at Around $120 Million
Oct 7 2004 // Everest Reinsurance Holdings, Inc., a wholly owned subsidiary of Bermuda’s Everest Re Group, Ltd. announced that its share of the aggregate estimated losses previously announced by the Group from the Florida...
S&P Sees Limited Impact of Typhoons on Japanese P/C Insurers’ Ratings
Oct 7 2004 // Standard & Poor’s Ratings Services indicated that the impact of damage caused by typhoons in 2004 on Japanese non-life insurers is likely to be limited, owing to reinsurance indemnities and catastrophe loss...
The Midland Co. Projects Q3 Profit Despite Hurricanes
Oct 7 2004 // The Midland Company, a Cincinnati-based provider of specialty insurance products and services, has projected a third quarter profit, despite volatile weather conditions during the quarter. “We are anticipating...
Vesta Offers Preliminary Hurricane Loss Estimates
Oct 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its gross loss, before reinsurance, from Hurricane Ivan is expected to be in the range of approximately $7.0 to $12.0 million and approximately $23.0 to $37.0 million...
Wellington Puts Hurricane Losses at $27 Million
Oct 6 2004 // U.K. Lloyd’s insurer Wellington Underwriting plc announced that the net impact on the Group’s profit before tax for 2004 from the recent hurricanes would be approximately £15 million ($27 million). Wellington...
PXRE Estimates Hurricane Losses at $80-$105 Million
Oct 6 2004 // PXRE Group Ltd. announced from Bermuda that it estimates it will incur claims from Hurricanes Charley, Frances, Ivan and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, of $80 to $105 million....
Arch Estimates Q3 Hurricanes and Typhoon Impact at Around $140 Million
Oct 6 2004 // The Bermuda-based Arch Capital Group Ltd. announced that, based upon current estimates, it expects net losses, on an after-tax basis, resulting from Hurricanes Charley, Frances, Ivan and Jeanne and Typhoon Songda to impact...
Texas Gov. Requests Hurricane Preparedness Report
Oct 6 2004 // Texas Gov. Rick Perry notified legislators from coastal areas across the state that he has directed Homeland Security Director Steve McCraw to assess Texas’ ability to handle large scale evacuations in the event of a...
Max Re Estimates Hurricanes’ Impact on Q3 Earnings at $20 to $25 Million
Oct 5 2004 // Bermuda’s Max Re Capital Ltd. announced that preliminary estimates indicate that the Company’s 2004 third quarter earnings will be negatively impacted by $20 to $25 million as a result of Hurricanes Charley,...
Hiscox Estimates Hurricanes’ Impact at $45 Million
Oct 5 2004 // U.K. insurer Hiscox PLC, which writes coverage both in the Lloyd’s market and independently, said that based on an initial review of its losses from the recent four hurricanes, which caused extensive damage in the...
Endurance Estimates Hurricane Claims at $115 Million
Oct 5 2004 // Bermuda-based Endurance Specialty Holdings Ltd. reported that estimated aggregate potential claims from hurricanes Charley, Frances, Ivan, and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, is...
Berkley Updates Q3 Hurricane Loss Estimates to $20 Million, Including Jeanne
Oct 5 2004 // W. R. Berkley Corporation announced that has updated its estimate of hurricane losses in the third quarter to now include those from Hurricane Jeanne as well as Hurricanes Charley, Frances and Ivan. Berkley’s...
ISO Study Reveals Calif. Brushfire Destruction in High-Risk Areas
Oct 5 2004 // With wildfires becoming a growing threat to homeowners and businesses in the western United States, insurers are increasingly relying on space age technology to help them identify these exposures as part of their...
Markel Estimates $80 Million in Hurricane Losses
Oct 4 2004 // Richmond, Va.-based Markel Corporation announced that on the basis of currently available information its estimated pre-tax net losses, including reinstatement premiums, from Hurricanes Charley, Frances, Ivan and Jeanne...
Everest Re Estimates Around $190 Million Exposure to Hurricane, Typhoon Losses
Oct 4 2004 // Barbados-based Everest Re Group, Ltd. announced that, based on its initial assessment of potential exposures, it expects aggregate losses from Hurricanes Charley, Frances, Ivan and Jeanne, and the quarter’s Pacific...
Brit, Beazely and Kiln Estimate Storm Losses
Oct 4 2004 // Three leading Lloyd’s Market insurers, Brit Insurance Holdings PLC, Beazley Group PLC and Kiln PLC, have announced preliminary estimates of their losses from the recent hurricanes, which struck Florida and a number...
Hurricane Survivor Feels Lucky, Despite Hassles
Oct 4 2004 // Betsy Gunderson isn’t living in her Coral Gardens neighborhood these days. Hurricane Frances rendered her home unfit for habitation. Then came a second slap for good measure from the remnants of Ivan, and the final...
Midwest Insurers Issue $90 Million More in Hurricane Loss Estimates
Oct 4 2004 // Another group of Midwest-based insurers have issued loss estimates totaling $90 million related to the recent hurricane season. St. Paul Travelers Cos. estimated its losses from Hurricane Frances at about $75 million,...
Hurricanes Insurance Claims Expected to Exceed $22 B
Oct 4 2004 // Thanks to Charley, Frances, Ivan, and Jeanne, insurance claim payments are expected to exceed $22 billion, far surpassing the claims for hurricane Andrew in 1992, which totaled $15.5 billion. According to the Insurance...
