Natural catastrophes (Nat Cats)
Zurich's results hit by floods in Europe
Zurich has reported a business operating profit of $2.3bn for the first half of the year (till 30 June), down 9% over the same period in 2012, and a net income attributable to shareholders of $1.9bn, down 17%.
Offices close across Hong Kong as typhoon watch 8 is raised
The Hong Kong Observatory raised typhoon watch 8 in the early hours of Wednesday morning as Typhoon Utor headed across the South China Sea. However, as of 2pm the storm Hong Kong time the signal was downgraded to T3 meaning people would be heading back…
Hong Kong and South China brace for Tyhoon Utor
The typhoon which struck the Philippines leaving at least two dead and 44 missing is heading towards South-East China and Hong Kong.
Limited impact from European Floods sees Kiln raise name syndicate forecasts
Kiln has boosted its return on capital forecasts for Lloyd’s names-backed non-life syndicates following strong performance.
Six killed by Indonesian volcano eruption
Four adults and two children have died after a volcanic eruption on an Indonesian island.
China earthquake was Asia's costliest disaster in July
According to Impact Forecasting, part of Aon Benfield, the July Gansu province earthquake in China caused $3.25bn of economic losses.
Monsoon rains cause havoc in the Philippines and Myanmar
Over 120 000 have been displaced in the Philippines and Myanmar following severe flooding from monsoon rains.
Europe's floods hit Munich Re's profits in Q2
Munich Re's profits fell considerably in the second quarter compared to the same period in 2012 as it booked a huge cost for the recent European floods.
9 500 claims from New Zealand winter storm
A June storm in New Zealand caused NZ$33m ($26m) of damage.
Storm surge cat bond issued for New York MTA
The first ever catastrophe bond for storm surge has been issued for the New York Metropolitan Transportation Authority, based on modelling from RMS.
RMS delivers risk analysis for storm surge catastrophe bond
Catastrophe modelling firm RMS has delivered risk analysis for a storm surge catastrophe bond to provide the New York Metropolitan Transportation Authority with $200m (£132m) storm surge protection.
Philippines considers mandatory earthquake cover
Lawmakers in the Philippines are considering a bill to recommend mandatory earthquake insurance.
Storm surge losses likely to be higher than wind losses in US
There is a 20% chance that storm surge losses will be greater than wind losses for any US hurricane that makes landfall, catastrophe modelling firm RMS has said.
Storm surge losses likely to be higher than wind losses in US
There is a 20% chance that storm surge losses will be greater than wind losses for any US hurricane that makes landfall, catastrophe modelling firm RMS has said.
Supply chain: A closer look
Insurers must understand the microeconomics of supply chains to thrive during the downturn.
Benign cat year and subrogation help Hiscox’s profits soar
Hiscox UK’s chief executive Bronek Masojada has attributed the insurer’s record £34m profit before tax to an absence of natural catastrophes.
A quarter of global economic losses in H1 covered by insurers
Around 24% of global economic losses of $85bn during the first half of 2013 were covered by insurance, according to Aon Benfield’s Impact Forecasting centre.
Aon analysis shows 24% of H1 losses covered by insurance
The $20bn (£13bn) total of insured losses for the first six months of the year was approximately 20% below the 10-year average of $25bn (£16.3bn), according to Aon Benfield’s Impact Forecasting centre.
$20bn of natural disaster insured losses in first half of 2013
Global natural disaster losses during the first half of 2013 on both an economic and insured basis were each below the recent 10-year (2003-2012) averages according to Impact Forecasting.
AIR appoints COO
Catastrophe modeling firm AIR Worldwide has appointed Bill Churney to the position of chief operating officer.
Willis says cat bond market needs to expand
If total alternative reinsurance solutions like catastrophe bonds are to continue to grow, a wider range of perils should be considered according to Willis Capital Markets & Advisory.
Cat bond market must expand: Willis
If total alternative reinsurance solutions like catastrophe bonds are to continue to grow, a wider range of perils should be considered according to Willis Capital Markets & Advisory.
Lloyd's earns postive ratings outlook after coping with record cat activity
A.M. Best has revised Lloyd’s outlook to positive from stable and affirmed the financial strength rating of ‘A’ (excellent) and issuer credit ratings of ‘A+’.
Earthquake in New Zealand causes minor damage
A 6.5 magnitude earthquake struck New Zealand on Monday morning shaking buildings including the Parliament building in Wellington.