Sunday, November 19, 2017

Catastrophe

Disaster coverage could become too expensive

Disaster coverage could become too expensive

The industry needs to find solutions if it wants to adapt to the threat of climate change, according to Munich Re.

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AIG posts US$1.74bn loss

AIG posts US$1.74bn loss

The third-quarter loss was caused by one of the markets single biggest hits from hurricanes.

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Global extreme weather losses reach US$129bn for 2016

Global extreme weather losses reach US$129bn for 2016

Economic losses will continue to increase due to droughts, storms and floods caused by climate change.

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UN warns of more destructive disasters in Asia

UN warns of more destructive disasters in Asia

The warning comes from the UN’s Economic and Social Commission for Asia and the Pacific.

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AIG sees third-quarter cat losses of US$3bn

AIG sees third-quarter cat losses of US$3bn

The figure includes US$1 billion each from hurricanes Harvey and Irma, and up to US$700 million from Maria.

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Big losses expected from recent hurricanes

Big losses expected from recent hurricanes

The global insurance industry may face losses of up to US$100bn from hurricanes Harvey, Irma and Maria.

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QBE says 2017 could be costliest in history

QBE says 2017 could be costliest in history

The Australian insurer expects its earnings to be dented by rising claims from this year’s disasters.

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Major insurers join blockchain insurance initiative

Major insurers join blockchain insurance initiative

Twenty-three insurance groups have joined the Blockchain Insurance Industry Initiative (B3i).

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Lloyd’s expects to post a net loss for 2017

Lloyd’s expects to post a net loss for 2017

Hurricanes in the US, plus the Mexican earthquake and floods and typhoons in Asia have taken their toll.

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Reinsurers suffering from rush of natural disasters

Reinsurers suffering from rush of natural disasters

Global reinsurers are starting to feel the effects of the recent frequency of hurricanes and earthquakes.

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Macau insurers peg typhoon losses at US$362.5m

Macau insurers peg typhoon losses at US$362.5m

Typhoon Hato, which struck the casino city in August, caused economic losses of US$1.4bn.

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Eastern exposure

Eastern exposure

Climate change and the growth of coastal megacities is exposing Asia to increasing risk from windstorms.

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Irma’s insured losses revised down

Irma’s insured losses revised down

From estimates up to US$60bn, forecast insured losses have been revised down to US$20bn-US$40bn.

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Hurricane Harvey highlights insurance protection gap

Hurricane Harvey highlights insurance protection gap

A significant proportion of the unprecedented flood losses generated by the hurricane will be uninsured.

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Hurricane Irma could cost up to US$65bn

Hurricane Irma could cost up to US$65bn

The extent of destruction and economic impact will not be fully known for some time.

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GC Securities and Marsh launch ILS platform

GC Securities and Marsh launch ILS platform

The JV standardises the placement process for collateralised reinsurance and private catastrophe bond deals.

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Reinsurance industry braces for Harvey impact

Reinsurance industry braces for Harvey impact

Will the storm, the first major hurricane to make landfall in the US since 2005, bring an end to the soft reinsurance market?

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Willis Towers Watson hires P&C consulting head for S Asia

Willis Towers Watson hires P&C consulting head for S Asia

David Maneval will be responsible for developing the non-life insurance consulting practice across Singapore, Thailand, Indonesia, Malaysia and Vietnam.

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