December 20, 2023
Allianz has sponsored a new catastrophe bond which will provide the group with multi-year risk transfer capacity of €250 million to protect itself against European windstorms. Allianz entered into a three-year reinsurance agreement with Blue Sky Re DAC, a special …
November 9, 2023
Industry insured losses due to wind from Winter Storm Ciarán (also named Emir by the Free University of Berlin) will range between €800 million and €1.3 billion ($855.2 million and $1.4 billion), with the majority of the losses expected in …
November 2, 2023
Storm Ciarán plowed through northwest Europe, tearing the roofs off some buildings, snarling transport networks and cutting power to more than a million people. The cyclone delivered punishing winds and heavy rainfall to an area spanning from the UK to …
October 31, 2023
Western Europe is bracing for the worst storm so far this season with hurricane-strength wind gusts and rain potentially disrupting travel and causing damage to buildings. Storm Ciaran will bring heavy rain and intense winds from Spain to France and …
March 13, 2023
Aon plc, a leading global professional services firm, updated its Impact Forecasting Europe Windstorm and Severe Convective Storm (SCS) catastrophe models to incorporate emissions scenarios that inform current and future projections of climate and storm activity across the continent. Windstorm …
December 1, 2022
Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a report published by Swiss …
October 14, 2022
Europeans and people living on the US East Coast are more likely to experience mild temperatures than a deep freeze this winter, easing any potential heating-fuel constraints at a time when energy costs are soaring. Scientists at the Copernicus Climate …
August 19, 2022
Insured losses for the European windstorm series, which affected the British Isles and continental Europe in February 2022, are estimated at €3.739 billion (US$3.8 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The windstorm …
April 25, 2022
Climate change produced another record-breaking year of extreme weather in Europe in 2021, triggering catastrophic flooding and the hottest summer on record, according to scientists at the Copernicus Climate Change Service. Summer temperatures in Europe last year were one degree …
April 18, 2022
Preliminary economic losses from natural hazards billion during the first quarter of 2022 totaled $32, of which less than 50% (or $14 billion), was covered by public and private insurers, according to a report published by Aon. Although the first …