Storms lashing Sicily have killed at least 12 people with torrential floods, Italian authorities said as the country’s leader headed Sunday to the stricken Mediterranean island. Divers pulled out nine of those victims from a home flooded by a rapidly …
Climate change is affecting the timing of river floods across Europe and societies may have to adapt to avoid future economic and environmental harm, scientists said. River floods are among the costliest natural disasters worldwide, causing annual damages of more …
Climate change is a major concern for small and medium-sized enterprises (SMEs), according to Zurich Insurance Group’s fourth annual global SME survey. Almost four-fifths (78 percent) of SMEs surveyed expected risks associated with climate change to have a significant effect …
RMS, the Newark, Calif.-based catastrophe risk management firm, has released a suite of Europe inland flood hazard data products. Describing the release as “the highest resolution view of the risk available on the market,” RMS said the data products include …
Allianz SE said second-quarter profit almost halved, missing estimates, as Europe’s biggest insurer faced higher claims from natural disasters and charges for the expected sale of its South Korea unit. Net income declined to 1.1 billion euros ($1.2 billion) from …
XL Group Plc, the insurer that expanded last year with the purchase of Catlin Group Ltd., said second-quarter catastrophe costs were probably about $240 million pretax, with wildfires in Alberta, Canada, responsible for about half the total. Flooding in Europe …
Allianz SE missed analyst estimates for fourth-quarter profit because of claims from natural catastrophes. Net income at Europe’s biggest insurer increased to 1.42 billion euros ($1.6 billion) in the quarter from 1.22 billion euros [$1.3 billion] a year earlier, the …
According to preliminary estimates from Swiss Re’s latest sigma report, insured losses from natural catastrophes and man-made disasters in 2013 are estimated to be around $44 billion, down from $81 billion in 2012. Insured losses from natural catastrophes are at …
Swiss Re has estimated that its claims burden from recent flooding in central and Eastern Europe is approximately $300 million, net of retrocession and before tax. Industry-wide insured losses are estimated to be between $3.5 and $4.5 billion. The flooding …
Floodwaters that inundated Prague and swamped large areas of central Europe may peak today as emergency crews work to open river traffic, drain submerged neighborhoods and count the cost of the storm damage. Chancellor Angela Merkel began a tour of …
