Hurricane Michael

'Extremely dangerous' Category 4 Hurricane Willa nearing Mexico's Pacific coast

2018-10-23T08:12:00+01:00

Hurricane Willa is nearing the Pacific coast of Mexico as a Category 4 storm, bringing the potential for life-threatening storm surge, wind and torrents of rain.

ILS financial markets

$100bn ILS appetite will continue despite rising yields

2018-10-23T06:03:00+01:00

Traditional reinsurers who have faced fierce pricing competition from the pension funds and other investors in the ILS sector are naive if they think the sector will diminish with rising interest rates.

Hurricane Irma boats

Universal passes reinsurers up to $315mn bill on Michael loss

2018-10-23T10:18:00+01:00

Floridian headquartered Universal Insurance Holdings is set to pass around $315mn of its losses from Hurricane Michael to its reinsurance panel.

Cty of london lloyds

Flagship Canopius syndicate to cut 2019 gross premiums by £80mn

2018-10-22T16:58:00+01:00

Top-ten Lloyd’s insurer Canopius will cut gross premiums by £80mn for its flagship Syndicate 4444 for 2019 as further evidence of the Corporation’s determination to de-leverage the market after the decline in overall performance levels in recent years.

Hannover, city

Hannover Re forecasts modest upswing for loss-affected German cat treaties

2018-10-22T13:34:00+01:00

Hannover Re expects positive premium development in its domestic German market for the upcoming round of treaty renewals at 1.1, albeit at a more muted pace than in the previous year.

Central-Pacific-hurricane

Perils launches Australia wind forecasting platform

2018-10-22T07:01:00+01:00

Zurich-based catastrophe modelling firm Perils has expanded its wind cat forecasting platform to include Australia.

Cyber security

Cyber risks are global but insurance not meeting demand: Munich Re

2018-10-22T14:43:00+01:00

Demand for cyber insurance is growing rapidly as increasingly costly events prove no market, sector or company is spared, irrespective of its size, from cyber risk, according to Munich Re.

marine maersk line generic

Gard swoops on another flagship London marine account

2018-10-21T21:28:00+01:00

Norwegian carrier Gard has secured another landmark London marine hull account, taking over from Lloyd’s insurer QBE as the lead on the London placement of the Qatar LNG fleet program, Re-Insurance can reveal.

North star scapsized ship

Marine insurers braced for another major shipyard loss

2018-10-19T15:59:00+01:00

UK insurer RSA and other marine underwriters are bracing themselves for a loss of up to $75mn after Hurricane Michael ripped through a shipyard in Panama City, Florida earlier this month, Re-Insurance can reveal.

Hurricane Michael

RMS pegs Michael insured losses at upto $10bn

2018-10-19T16:50:00+01:00

Global risk modeling and analytics firm, RMS has estimated that the insured loss from Hurricane Michael will be between $6.8bn and $10bn

AIG-now-down-20%-share-price-i

AIG shares dip after heavy Q3 cat loss estimate

2018-10-19T14:20:00+01:00

AIG’s share price has fallen in early trading today but less than suggested from last night’s after market price following the publication of the company’s unexpectedly high Q3 loss bill.

aig city of london

AIG expects as much as $1.7bn in Q3 catastrophe losses

2018-10-19T08:39:00+01:00

US insurance behemoth American International Group said it expects to report third quarter pre-tax catastrophe losses of as much as $1.5bn to $1.7bn from natural disasters including Hurricane Florence and typhoons Jebi and Trami.

Blue capital logo

Blue Capital Re: correction on loss estimate

2018-10-19T16:00:00+01:00

The NYSE-listed collateralised reinsurance fund Blue Capital Re said yesterday that its Q3 net Irma loss bill will increase by a further $6.1mn.

Lloyds buidling landscape

Standard Syndicate set to exit Lloyd’s

2018-10-18T16:01:00+01:00

Charles Taylor-managed Standard Syndicate 1884 has announced that it is withdrawing from underwriting at Lloyd’s from 2019.

Typhoon Mangkhut

Markel CatCo warns of single-digit NAV hit from Michael and Jebi

2018-10-18T13:05:00+01:00

Retro reinsurance investment specialist Markel CatCo said it expects its net asset value (NAV) to take a single digit hit as a result of cat losses from both Hurricane Michael and Typhoon Jebi.

Japan typhoon

Swiss Re unveils $500mn Jebi hit; $1.4bn 3Q loss bill

2018-10-18T06:48:00+01:00

Swiss Re said today that its net reinsurance losses from last month’s Typhoon Jebi will be $500mn, taking its overall third quarter nat cat loss burden to $1.1bn.

travellers building

Travelers profit more than doubles in Q3 as cat losses shrink

2018-10-18T14:25:00+01:00

US commercial and personal lines giant Travelers reported saw net income more than double in the third quarter as catastrophe losses fell from the prior year.

Guy carp lead losses fotolia 139946714 subscription monthly m

RenRe forecasts $155mn hit from third quarter nat cats

2018-10-18T09:05:00+01:00

Blue-chip Bermudian reinsurer RenaissanceRe has said it expects its third quarter 2018 results to be hit by a $155mn natural catastrophe bill.

Register now - it's free!

Sign up now and you'll get:

  • Breaking news by email on all critical issues
  • Trusted analysis and commentary
  • Opinion from market thought-leaders
  • Exclusive data on the industry
  • Weekly digital newsletter
  • Control over the content you receive
Yes, please