Hurricanes News

Tropical Cyclones Moving Slower Over Land: Study

A new study finds that tropical cyclones around the world are moving slightly slower over land and water, dumping more rain as they stall, just as Hurricane Harvey did last year. This isn’t about how powerful a storm’s winds are, …

Natural Disasters Cost Insurers a Record $144 Billion in 2017: Swiss Re’s sigma

Global insured losses from natural catastrophes were US$144 billion in 2017, the highest-ever recorded in a single year, according to the latest sigma study from the Swiss Re Institute. The biggest losses came from Hurricanes Harvey, Irma and Maria (HIM), …

Alternative Capital Responds to 2017 Catastrophes with ‘Show of Strength’: Aon Benfield

Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to a report published by Aon …

U.S. Cities Ranked Most Vulnerable to Coastal Floods Due to Climate Change

This week is the anniversary of Superstorm Sandy, which developed in late October and moved over the East Coast starting on Oct. 29, 2012, causing more than $70 billion in damage and killing 280 people. To mark that anniversary, Climate …

Investors Remain Committed to ILS Market Despite Q3 Catastrophes: WTW

ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, according to Willis Towers Watson Securities. None of the third …

Swiss Re Estimates $3.6B in Claims from U.S. Hurricanes & Mexican Quakes

Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third quarter. For the industry overall, Zurich-based Swiss …

Zurich Estimates Claims of US$700M from Hurricanes Harvey, Irma & Maria

Zurich Insurance Group estimates that Hurricanes Harvey, Irma and Maria will aggregate claims in the third quarter of approximately US$700 million, net of reinsurance and before tax. After tax, the losses are expected to be around US$620 million, the company …

Argo and Aspen Issue Loss Estimates for Q3 Natural Catastrophes

Argo Group International Holdings Ltd. and Aspen Insurance Holdings Ltd. have issued their third quarter catastrophe loss estimates, primarily related to Hurricanes Harvey, Irma and Maria as well as the earthquakes in Mexico City. Argo, the Bermuda-based specialty insurance and …

Storm Ophelia Set to Slam Coast of Ireland; Extreme Winds, Flooding Expected

Irish authorities warned some of the worst weather conditions to hit the country in 50 years will endanger lives, as Storm Ophelia’s remnants batter the coast with “extreme” conditions. Met Eireann, the nation’s weather service, extended its most severe warning …

Ireland Readies for Hurricane Ophelia, One of Its Strongest Storms in 50-Plus Years

Ophelia strengthened into a Category 2 hurricane forecast to strike Ireland, where one of the nation’s strongest storms in half a century threatens everything from farms to a golf course owned by the family of U.S. President Donald Trump. Ophelia’s …