Natural catastrophes (Nat Cats)
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.
Travellers urged to consider ash cover after Etna eruption
Fears of a repeat of 2010’s travel chaos have surfaced after Europe’s highest volcano Mount Etna, began erupting over the weekend, ejecting lava and ash into the air.
Ironshore launches new environmental products for Europe
Dublin-based insurer Ironshore Europe has launched a suite of environmental products for the European market.
Clustering seen as Windstorm Andrea follows hot on Ulli's heels
Windstorm Andrea passed through the UK earlier last week, fast on the heels of Windstorm Ulli, which brought widespread travel and power disruptions to Scotland.
A windstorm for the insurance market
As the market gradually starts to digest the recent European renewals, Francesca Nyman considers the increasing challenge that European windstorms pose and whether insurers are adequately protected against this risk.
Natural Catastrophes poll
The sequence of earthquakes and large number of weather-related catastrophes have led some insurers to brand 2011 the costliest year ever in terms of natural catastrophes.
Windstorm Ulli expected to hit Scandanavia then dissipate
Windstorm Ulli is passing through Scandinavia and is expected to dissipate as it moves over the Baltic Sea today.
No widescale rate hardening at 1/1 renewals
The 1 January reinsurance renewal season has seen large rate increases in catastrophe-exposed and loss-affected contracts, but there has not been wide market hardening.
News analysis: Lloyd’s CEO Ward outlines diversity message with ambitious three-year plan
The start of every New Year is inevitably accompanied by the desire to deliver on resolutions made the month before — and Lloyd’s is no different.
Nat-cats make 2011 the costliest year ever
A sequence of devastating earthquakes and a large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses, Munich Re’s annual natural catastrophe review has found.
Munich Re: 2011 was worst year ever
Munich Re has said the sequence of earthquakes and large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses racking up $380bn of global economic losses.
Nat-cats dominate renewals with modest change on other classes
The volume of catastrophe losses in 2011 from unmodeled or inadequately modelled perils has lead reinsurers to be more forceful in their demand for greater transparency of data and look to sub limit their exposure to manageable levels, according to…
Claims from Windstorm Dagmar in Scandinavia to break $46m
According to catastrophe modeling firm AIR Worldwide, Windstorm Dagmar, which moved across Russia north of St Petersburg on Christmas Day and until the early hours of 27 December 2011, caused power outages, tree-downings, and landslides and other…
NZ quakes hit Christchurch
A string of serious earthquakes have hit the New Zealand city of Christchurch just ten months after the last quake.
Amlin purchases $150m worth of international cat cover
Amlin has revealed that it has acquired coverage for US hurricane, US earthquake and European windstorm perils of up to $150m (£95.7m) from Bermudian special purpose insurer, Tramline Re.
Rate decreases still achievable despite record nat cats, Marsh says
Global insurance rates continued to climb in most loss-affected geographies and classes of business in the fourth quarter of 2011, but rate decreases are still achievable in many lines of business, according to a report by Marsh.
Record cat losses spark two speed market, claims Marsh
Rate decreases remain possible in many lines of business despite the fact that the fourth quarter of 2011 witnessed rising global insurance rates in most loss-affected territories and classes of business.
Philippines storm: Port cities hit by Washi devastation
A tropical storm in the Philippines has killed hundreds and caused flood damage to government infrastructure and commercial properties.
Scor expects €140m in Thai flood losses
French reinsurer Scor estimates its losses from the floods in Thailand at €140m net of retrocession and before tax.
View from the top: Market volatility and risk – ‘Keep Calm and Carry On’
As 2011 draws to a turbulent end, minds are now focusing on how best to tackle the continued economic volatility that 2012 is sure to bring for risk managers across the world. Never has the old adage ‘Keep Calm and Carry on’ been more appropriate.
Partner Re to take $88m charge from Tohoku quake
PartnerRe is set to record a charge of approximately $88m (€67.2m) to reserve the full limit of its Tohoku Earthquake exposure related to its largest Japanese cedant.
Perils updates windstorm exposure data for 11 European countries
Perils, the independent organisation that provide industry-wide catastrophe insurance data, has updated the windstorm exposure data for 11 European countries.
2011 nat-cat insured losses reach $108bn
Total insured losses for the global insurance industry from natural catastrophes and man-made disasters reached $108bn (€83bn)in 2011 according to Swiss Re.