The threat of a wildfire bearing down on the unofficial capital of Canada’s oil-sands industry is expected to lessen as temperatures cool and winds shift, though the prospect of rains dousing the flames entirely remains remote. The blaze near Fort …
Firefighters on Monday battled a large wildfire heading towards a remote western Canadian town as winds and tinder dry conditions threatened to spread the flames further, a provincial minister said. The largely evacuated town of Fort Nelson in British Columbia …
Mexico is fighting 159 active wildfires across the country amid the year’s second heat wave that has also put the nation’s power grid under stress. Mexico’s national weather service issued an alert that at least 12 states would experience temperatures …
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and …
The strong pricing environment for most business lines written in the London insurance market is expected to support good underwriting profitability – factors that have led AM Best to revise its outlook for the segment to positive from stable. Further, …
Global insured losses from natural catastrophes in 2023 totaled $108 billion, exceeding US$100 billion for the fourth consecutive year – an indication of the new norm for nat cat losses, according to Swiss Re. Other record-breaking numbers for 2023 included …
A hedge fund that last year delivered its best result ever thanks to catastrophe bonds is now scaling back its position, based on a bet that the market is headed for a rough patch. Tenax Capital, which has a €100 …
The United States and the Philippines are the countries hit hardest by climate-driven extreme weather, measured as a percentage of their economies, according to a report released Wednesday by global reinsurance giant Swiss Re. The US currently experiences the worst …
As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack. The strategy in question is tied to insurance-linked securities, which are dominated by …
Powerful winds have killed a man and brought widespread destruction across Australia’s second-most populous state, leaving 530,000 homes and businesses without power and fanning fires that razed homes and injured five firefighters, officials said on Wednesday. Winds of up to …
