Hannover Re owner Talanx managed to grow profits in the first half of the year despite an uptick in German fire and property losses in its industrial lines unit.
Japanese carrier Tokio Marine Holdings expects to pay out 50bn yen ($451.8mn) for losses stemming from heavy rain in the country last month.
Insurers need to change the way fire perils in California are modelled and underwritten in the wake of wildfires that have taken hold across the state, according to AM Best.
Shares in reinsurance giant Munich Re dipped by as much as 4 percent this morning after man-made disasters helped push the carrier’s P&C reinsurance division to an underwriting loss in the second quarter.
Japanese insurer MS&AD has warned that it is expecting gross losses of around 66bn yen ($594.8mn) after flood waters inundated swathes of the insurance giant’s heartland last month.
Insured losses stemming from earthquakes in Canterbury, New Zealand in 2010 and 2011 have risen to NZ$22.29bn ($15.02bn), according to the country’s insurance trade body.
Insured losses stemming from the Carr wildfires that continue to ravage parts of North California could burn through the $1bn threshold, according to Aon’s Impact unit.
The raging California Carr fire is already the sixth most destructive wildfire in the state’s history and could lead to insured losses of $1.5bn or even higher, according to the rating agency Moody’s.
Economic losses stemming from the Carr wildfire that has ravaged parts of California in recent days are expected to exceed $100mn, according to estimates by Aon.
Berkshire Hathaway has excluded talcum powder-related exposures from the $1.5bn adverse development cover (ADC) it struck with The Hartford in late 2016.
The chief executive of Chubb, Evan Greenberg, has talked down the potential impact that new asbestos claims stemming from talcum powder use could have on the insurance industry.
(Re)insurers will inevitably be drawn in to impending litigation from the ongoing opioid epidemic in the US, according to the CEO of the blue-chip specialty insurance group, WR Berkley.
Shares in Everest Re fell by more than 6 percent in early trading on the New York Stock Exchange after the Bermudian revealed it was under-reserved for last year’s hurricanes.
Shares in NYSE-listed Everest Re may come under selling pressure later today after the Bermudian reinsurer said it would take a $250mn after tax charge to bolster reserves from last year’s catastrophes.
US insurance giant Allstate suffered $417mn in catastrophe losses last month mainly stemming from severe hail storms.
European catastrophe data provider Perils has again increased its loss estimate for extratropical cyclone Friederike, this time to EUR1.68bn ($1.97bn).
A comparative reprieve from heavy catastrophe losses in the second quarter is expected to bolster carriers’ earnings for the period.
Insured losses stemming from natural catastrophes in the first half of 2018 were down a third compared to the first six months of 2017, according to Munich Re.