Natural catastrophes (Nat Cats)
Spotlight on environment: Providing protection
With climate change increasing the likelihood of natural disasters, insurers must influence the debate on how businesses and governments manage risks such as supply chain failure.
Tough conditions for EMEA commercial markets, Marsh warns
Insurance rates for businesses with exposure to natural catastrophe and supply chain risks are expected to keep increasing in 2012 across Europe, the Middle East and Africa, according to a report published today by Marsh.
HCC: Thai flooding cost $10m in Q4
HCC Insurance Holdings has revealed fourth quarter Thailand flooding catastrophe loss estimates of $10m (£6.4m), taking the year’s losses to $117m.
QBE ratings unchanged despite cat losses
AM Best has left the ratings of QBE unchanged despite the company almost halving its forecast profit after tax because of catastrophe losses.
Reinsurers reluctant to cover Thai cat fund
Global reinsurers may be reluctant to cover the recently announced Thai catastrophe fund if asked to by the nation’s government, according to market analysts.
Fairfax takes 25% Thai Re stake
Financial services company Fairfax is to acquire approximately 25% of the issued and outstanding shares of Thai Re in a deal worth approximately $70m.
News analysis: Insurers and reinsurers must start to focus on emerging ‘peak’ risks
Natural catastrophes: Will previous ‘cold spots’ be targeted by insurers and reinsurers?
View from the top: Lessons from the East
Catastrophes in Japan showed the resilience and strength of the industry, says Andrew McKee.
Arab Spring: Life during wartime
Continuing civil unrest in the Middle East and North Africa presents a challenge to the property insurance market — especially concerning the limits placed by the war risks exclusion.
Capital adequacy: Alternative finance
With Solvency II just 12 months away, and 2011 an unprecedented catastrophe year, how difficult will it be for insurers to attract equity or secure alternative funding?
Thai cat fund given green light by regulator
The Office of Insurance Commision, Thailand’s insurance regulator, has passed a resolution to establish a 50bn baht (€1.2bn) catastrophe fund for floods, windstorms and earthquakes.
Swiss Re warns quakes remain underinsured
Swiss Re has described the cumulative effects of earthquakes over the past two years as “overwhelming” but says the world’s worst affected areas remain underinsured.
Firms underestimate cyber risk, according to Allianz survey
Economic risks, business interruption and destructive natural catastrophes are among the biggest risks to companies in 2012, according to a study conducted by Alianz Global Corporate & Specialty.
Australian disaster claims total A$5bn
Australia’s eight natural disasters in 2011 cost general insurers approximately A$5bn (£3.4bn) – more than double the 2010 figure, the Insurance Council of Australia reports.
Reinsurance trade groups warn against protectionist regulation
A coalition of reinsurance trade groups has pointed to the record 2011 global insured natural catastrophe losses as a warning sign as to why protectionist reinsurance regulation will backfire in jurisdictions that try to impose limits on global risk…
QBE expects 40% drop in profits after tax
Australia-based general insurer QBE expects its profits after tax for 2011 to be down 40% to 50% on the previous year.
Insurers reveal Thai flood losses
Bermuda-based Arch Capital Group has said it expects the company’s 2011 fourth quarter results to be negatively impacted by the severe flooding in Thailand.
Catastrophes could halve QBE profits
QBE has warned its profit margin could be cut in half by catastrophe claims.
XL may have $185m Thai flood claims
Insurer XL has said its preliminary net loss estimates from the Thailand floods could be as much as $185m.
Roundtable - Analytics: the true value of quality data
As investment in analytics increases, Post gathered a group of experts to debate the rise in the use of data in all areas of the insurance industry.
Mixed 2012 renewals for global reinsurance market
The 1 January 2012 renewals saw a shift in industry behaviour as both insurers and reinsurers implemented more sophisticated, customised approaches to risk assessment and mitigation, according to Guy Carpenter.
Guy Carpenter renewals report identifies shift in industry behaviour
The position by reinsurers to undertake a major review of pricing and underwriting heading into renewal season has led to “significant market fragmentation and increased volatility”, according to Guy Carpenter’s 2012 global reinsurance outlook.
Cat losses for 2011 second highest on record
Total insured natural catastrophe losses of $107bn (£69bn) in 2011 were the second highest on record - surpassed only by the 2005 total of $120bn.
AM Best: Reinsurance market "stable"
The reinsurance market remains stable despite “numerous challenges”, according to A.M. Best.