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.
US carrier Allstate was hit with $224mn of catastrophe losses in May mainly stemming from a serious of severe wind and hail events.
This year’s storm activity in the Atlantic basin is expected to be near historical averages, according to data collated by Moody’s.
Insured losses stemming from four separate weather outbreaks in the US last month are expected to exceed $1.53bn, according to estimates by Aon.
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.
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.
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.
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.
The UK specialty insurance market experienced the costliest year on record in 2017, according to EY.
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.
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.
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.
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.
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.
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.
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.