US insurance giant Allstate is expecting first quarter catastrophe losses to hit $361mn, with $222mn of that total from events in March alone.
European catastrophe data provider Perils has increased its loss estimate for extratropical cyclone Friederike to EUR1.63bn ($2.02bn).
Bermudian reinsurer Everest Re has said it expects to take around $100mn in catastrophe losses in its Q1 results, largely due to deterioration in loss estimates for the California wildfires which scarred swathes of the state last autumn.
Cargo losses stemming from the fatal fire that gutted a Maersk ship in March are expected to fall in the $75mn to $100mn range, re-Insurance.com understands.
Insured losses incurred in 2017 are estimated to stand at $144bn, making it the biggest cat loss year on record, according to Swiss Re’s latest Sigma report.
Colorado State University (CSU) researchers have predicted the Atlantic hurricane season to be ‘slightly above average’ in 2018, anticipating 14 named storms.
Insured losses from three powerful ‘Nor’easter’ storms which swept the East coast of the US in March are estimated to reach over $1.7bn, according to data from Aon Benfield.
Underwriters of upstream energy face a dilemma over whether to continue to invest in the line of business or to scale back operations until the class becomes more profitable, a new study from Willis Towers Watson has found.
Chubb has warned that it is expecting to take a $380mn natural catastrophe claims hit from a first quarter that brought mudslides in California and a string of storms in the north eastern US.
Another year and another set of Lloyd’s syndicate results come into the world but after one of the worst years in the market’s 330-year history, four fifths of syndicates posted a loss with 17 of those reporting a combined ratio in excess of 150 percent.
Californian insurers have now received more than $421mn in claims from the deadly Montecito mudslides in January.
The fire in a Russian shopping mall which caused the deaths of at least 64 people has led to calls for the government to introduce liability insurance laws after it emerged the complex owner had not purchased cover.
Catastrophe data provider Perils has finalised its loss estimate for Cyclone Debbie which swept across parts of Queensland and New South Wales last year at AUD1.74bn ($1.33bn).
The fire which gutted Maersk’s Honam vessel earlier this month, killing four sailors onboard and damaging substantial cargo, is set to blow through the International Group’s (IG) $100mn pool retention and deal the reinsurance market a severe marine loss, re-Insurance.com understands.
The Lloyd’s market was already under strain from attritional losses in 2017 even before the catastrophes of the second half of the year took hold, the market revealed in its annual report.
Losses from the Kea Trader container ship, which ran aground in July last year, have deteriorated by an additional $40mn - pushing the cost for marine (re)insurers to $210mn, re-Insurance.com can reveal.
XL Catlin leads the hull cover for Danish shipping giant Maersk’s Honam ship which had to be evacuated due to a fire in the hold in the Arabian Sea yesterday re-Insurance.com has learned.
A day after Danish Alpha Insurance said it was entering “solvent” run-off, the Danish financial regulator, DFSA, has said the distressed carrier “no longer complies with the minimum capital requirement” which may have “negative implications for the policyholders”.