Canada wildfires 2016

PG&E pegs California wildfire insurance recoveries at $375mn


California public utility company PG&E has said it hopes to recover around $375mn from its insurers over damage caused during a spate of wildfires in the state in the second half of last year.


Allstate suffers $224mn of cat losses in May


US carrier Allstate was hit with $224mn of catastrophe losses in May mainly stemming from a serious of severe wind and hail events.

Hurricane irma satshot

Moody’s predicts ‘average’ 2018 Atlantic hurricane season


This year’s storm activity in the Atlantic basin is expected to be near historical averages, according to data collated by Moody’s.

US, electrical storm

Aon pegs US May storm losses at $1.53bn


Insured losses stemming from four separate weather outbreaks in the US last month are expected to exceed $1.53bn, according to estimates by Aon.


World Cup could demand over $7bn of cover: Beazley


London insurer Beazley has estimated that (re)insurers could have written up to $7.4bn of cover for the World Cup, which kicks off in Russia later this month.

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Threat of violence puts Tokyo in danger of $24bn loss of output


Of all the cities in the world, Japan’s capital is the one that faces the greatest risk to its economic output, according to a study by Lloyd’s.

US, Hurricane

Insurance can reduce tax-payer burden: Beale


Insurance products have the ability to directly reduce the risk to economic output globally and close the protection gap, Lloyd’s CEO Inga Beale has said.

US, Hurricane

Rate rises ‘negligible’ at Florida renewals despite cats: JLT Re


The critical 1 June Florida renewals season failed to produce meaningful rate rises despite the state being hit with a swathe of catastrophes in 2017, according to analysis by JLT Re.

New Orleans 2005 Hurricane Katrina

Catastrophes make 2017 costliest year ever for UK specialty insurers


The UK specialty insurance market experienced the costliest year on record in 2017, according to EY.

US hurricane Sandy 2015

Colorado State lowers 2018 hurricane forecast to ‘average’


Colorado State University (CS) researchers have tempered their annual Atlantic hurricane forecast for this season, predicting that the lack of a significant El Niño will translate into only average activity.

Hurricane irma satshot

Floridian Universal ups reinsurance coverage by $350mn


Floridian homeowners’ coverage specialist Universal, the Sunshine State’s largest insurer after government-backed Citizens, has added an extra $350mn in capacity to its reinsurance programme for this year.

California wildfires

PG&E shares drop as it takes the heat for California’s wildfires


Utility company PG&E has been blamed for four of the devastating wildfires that swept through California scorching swathes of the Golden State in October last year.

tokyo fotolia 57357516

Sompo’s international profits more than double on tax gain


Profits in Sompo’s overseas business, which includes Sompo International - formerly Endurance - more than doubled last year as the group benefited from a tax gain driven by an internal restructure.

Tokyo japan skyline

Losses weigh on Tokio Marine results for 2017


Profits at Tokio Marine slipped by a quarter in 2017 as a string of catastrophe events and large losses weighed on the Japanese giant’s full year results.

Marine cargo ship

Lloyd’s marine market faces a seachange following 2017 cats


On the back of an awful year for the marine insurance market that was plagued by major losses, over capacity and competitive pricing, a trend of retrenchment has started to emerge.

Kea trader pic900px

Skuld grows 2017 profits despite Kea Trader loss


Despite being the P&I insurer for Kea Trader, Scandinavian marine insurer Skuld increased profits to $58mn in 2017, the Oslo-headquartered company announced today.

Bugaboo forest fire

California wildfire bill continues to plague Everest Re in Q1


Everest Re’s climbing fourth quarter catastrophe bill helped the carrier to disappoint analysts in the first three months of 2018.

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