Natural catastrophes (Nat Cats)
Extreme weather conditions barely disrupt film insurance market
While floods, tropical storms and fires have generated extra claims for insurers worldwide, a Lloyd’s broker who specialises in film insurance says his firm has not perceived a rise in losses.
Reinsurance: Superstorm in a teacup?
While destruction wreaked by Superstorm Sandy hasn’t hit the reinsurance sector as hard as might be expected, the market faces challenges in the shape of overcapitalisation and PPOs.
P&C insurers better placed than life firms to weather economic storm
Property and casualty insurers are better positioned to withstand a slow growth environment compared to life insurers, which will be more impacted by the weak global economy given they are mainly "discretionary" purchases and the low interest rates,…
Fire and natural catastrophes top business concerns in Asia, says Allianz
Business and supply chain interruption caused by natural disasters is the number one risk faced by companies in Asia according to the Allianz Risk Barometer 2013.
Insured losses 36% above 10-year-average in 2012
Natural catastrophes globally caused total economic losses of £200bn in 2012, only slightly above the 10-year-average of $187bn.
Am Best affirms Swiss Re rating
Swiss Re's A+ financial strength rating and issuer credit ratings of ‘aa‘ have been affirmed by AM Best.
Weather and emerging markets key 2013 risks, warns Willis
Extreme weather and a new generation of emerging markets are among a new list of risks faced by businesses over the next 12 months identified by Willis.
Philippines government looks to increase natural disaster recovery efforts
The Philippines Department of Agriculture is seeking to develop a centralised preparedness scheme for before, during and after natural disasters.
Asian insurers urged to be selective in current climate
Growth opportunities exist for insurers in wealth management and personal insurance, despite the economic slowdown and evolving regulatory change in Asia Pacific, according to Ernst and Young.
Large number of claims reported from Jakarta floods
Loss adjusting firm Cunningham Lindsey has been notified of a large number of losses resulting from flooding in Jakarta on Thursday.
New Tasmania fire destroys 30 homes
A bushfire sparked on 13 January has led to evacuations of Tasmanian residents as the island fights to recover from blazes which racked the state earlier in the month.
Post magazine - 17 January 2013
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Insurance Council of Australia: Tasmania fires the 'start of what's to come'
The Insurance Council of Australia has warned that the country could be in for a difficult fire season, after fires ravaged Tasmania and the mainland and caused tens of millions of dollars in insured losses.
Two thirds of German homes not covered for natural hazards
Over two thirds of householders in Germany are not insured against damage by extreme weather conditions, according to Munich Re's primary insurance arm Ergo.
Sandy loss "comfortably" within budget, says Hannover Re
Losses arising from Superstorm Sandy are within Hannover Re's major loss budget for 2012 after the firm estimated a €261m net burden of loss from last October's storm.
Ergo launches modular home contents policy
Munich-Re owned Ergo Insurance has launched a new home contents policy for the German market.
Reinsurers back Zurich quake bond
Munich Re and Swiss Re have acted as joint lead structuring agents in a $270m (£166m) catastrophe bond transaction that transfers North American earthquake risk to the capital markets, on behalf of Zurich Insurance Group.
US nat cats push global insured losses above 10-year average
Munich Re has called for greater loss prevention measures to be taken in the US, which saw 90% of worldwide insured losses in 2012.
Prices mostly stable at January reinsurance renewals
January 2013 reinsurance renewals took place against a stable backdrop, with only loss-affected lines and select regions experiencing price volatility, according to Guy Carpenter.
Insured losses exceed $50bn in 2012
The reinsurance sector is "equipped with ample dedicated capital and stable pricing" as it enters 2013, according to Guy Carpenter.
Superstorm Sandy puts downwards pricing pressure on reinsurers
Natural catastrophe losses for 2012 are estimated to be 50% less than 2011's $120bn, and most reinsurers are not facing any material capital impact and remain within annual catastrophe budgets.
Industry cat losses to hit $65m in 2012, says Swiss Re
Insured losses from natural catastrophes and man-made disasters will reach approximately $65m in 2012, according to Swiss Re.
Asia View from the Top: Speciality lines drive growth
The economy remains strong across much of Asia, and the World Bank predicts growth of 7.6% in the region in 2013.