Storm Henk Causes Estimated £150 Million in UK Insured Losses: PwC January 10, 2024 By Carolyn Cohn and Simon Jessop Storm Henk, which battered Britain last week, caused around 150 million pounds ($190 million) in insured losses and damaged around...
Extreme Weather and Misinformation Top Global Risks: World Economic Forum January 10, 2024 By Victoria Waldersee Risk specialists see extreme weather and misinformation as most likely to trigger a global crisis in the next couple of...
Insured Price Tag for Natural Disasters Was $95B in 2023 With Economic Cost of $250B January 9, 2024 By L.S. Howard Natural catastrophes in 2023 caused global economic losses of US$250 billion, with insurers and reinsurers paying US$95 billion of that...
AM Best: Japan Quake’s Effect on Insurers ‘Manageable; KCC Says Losses to Hit $6.4B January 5, 2024 By L.S. Howard The earnings impact on the major domestic non-life insurers of claims from the Jan. 1, 2024 earthquake in Japan is...
January’s Property Cat Renewals See Biggest Price Hikes in Turkey, Italy and US January 4, 2024 By L.S. Howard While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year),...
A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’ January 3, 2024 By L.S. Howard This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased appetites” and a...
Turkey Earthquake Tops 2023 Insurance Industry Losses Outside US: CRESTA January 2, 2024 The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an...
Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter December 29, 2023 Ceding companies are finding that a responsive reinsurance market has materialized for the Jan. 1, 2024 renewals – a reflection...
Extreme Weather in Germany Costs Insurers US$5.4 Billion in 2023: GDV December 29, 2023 Extreme weather in Germany again caused high insurance claims this year, with an estimated price tag of €4.9 billion (US$5.4...
A&E Loss Payouts on the Rise; Reserves Will Run Off in 8 Years December 20, 2023 A new AM Best segment report details asbestos and environmental (A&E) losses and reserve decline through the end of 2022....