Industry Segments: Catastrophe Page 23 / 52
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- August 15 2022
Seoul flooding hits P&C players with ‘material’ losses
Claims from the record downpour expected to top US$115m.
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- August 11 2022
Powerful and unusual hailstorm dents Japan’s ‘big three’ Q1 results
The insurance giants saw losses of US$610m from freak storm in addition to Ukraine impact.
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- August 10 2022
Seoul flooding leaves Korean P&C players facing thousands of claims: report
Insurers including Samsung Fire & Marine and DB Insurance said the damages amount to several billion won.
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- August 8 2022
Suncorp’s profits fall 34% on nat cats amid US$1.7bn of reinsurance recoveries
The group missed its full year nat cat target by US$70m and had an investment loss of US$131m.
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- August 8 2022
Australian floods dampen reinsurers’ H1 results as secondary perils drive losses
Munich Re, Swiss Re, Hannover Re and PartnerRe were among firms hit by the wild weather.
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- August 3 2022
Urban floods in India, China and Bangladesh spurred H1 cat losses: Swiss Re
Floods in Australia were the costliest cat event in H1 2022 in terms of insured losses.
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- July 29 2022
Swiss Re returns to profit as Australia floods add to US$270m H1 nat cat miss
The group saw a Q2 net profit of US$405m, while P&C reinsurance H1 nat cat claims were US$938m.
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- July 29 2022
APAC insured losses were US$8bn in H1 2022: Munich Re
Parts of eastern Australia saw their wettest week in February since 1900.
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- July 28 2022
Australia floods and Japan earthquake lead H1 2022 APAC insured losses: Aon
The total costs of the two disasters totaled US$6.2bn in insured losses.
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- July 27 2022
Fire and liability losses drive APAC claims burden
Inflation is set to add to a costly claims' environment of rising property values and extreme weather.
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- July 22 2022
IAG returns to profit in FY 2022, but records US$245m nat cat miss
The insurer strengthened prior reserves by US$119m in part due to claims inflation.
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- July 14 2022
Australia’s PM unveils climate plan as NSW flood claims approach US$100m
Anthony Albanese highlights large scale renewable energy plan, as over 12,000 claims lodged from recent flooding.
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- July 11 2022
New South Wales flooding claims top US$65m: ICA
The latest flooding in the state is another significant loss event for insurers.
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- July 8 2022
Down to the wire Australian renewals signal market shift
In fraught negotiations, reinsurers adapt to higher frequency of secondary perils and climate change.
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- July 7 2022
Time to learn from Australia’s unmitigated disasters
As insurers' budgets come under pressure and nat cats intensify, mitigation needs to be prioritised.
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- July 6 2022
IAG extends Munich Re quota share, finalises FY 2023 reinsurance
IAG will have a maximum event retention of US$92m, allowing for quota share arrangements.
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- July 6 2022
Australian market hit by ‘significant’ NSW flood event
Tens of thousands asked to evacuate in fast moving, dangerous situation.
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- July 5 2022
China explores parametric expansion after costly floods
Henan is the latest province to trial the cat innovation after payment was triggered in Guangdong last month.
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- July 4 2022
Suncorp ups FY 2023 cat allowance to US$800m amid more NSW bad weather
At the 1.7 renewals, Suncorp saw reinsurance premiums increase “significantly".
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- July 4 2022
Australia renewals much ‘tougher’ and ‘later’: Gallagher Re
The floods in NSW and Queensland contributed to price increases of up to 25%.
