Industry Segments: Catastrophe Page 29 / 52
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- September 28 2021
MS Amlin acquisitions doubles MS&AD’s overseas business
The (re)insurer posted a US$380m underwriting loss due to Covid-related BI and event cancellation claims.
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- September 27 2021
NSW, Queensland floods loss estimate further revised downward
An initial A$1.06 billion hit has been lowered to A$751m.
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- September 24 2021
New Zealand insurers profitable despite nat cats
Report shows wildfires have also contributed to major claims along with heavy rainfall.
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- September 23 2021
Flood insurtech Previsico raises US$2.5m
The insurtech tells IAN it is currently targeting China and Hong Kong in the Asia Pacific region.
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- September 21 2021
Nat cat ILS in line for record year: Fitch
Issuance in H1 2021 was a first-half record of US$8.5bn with ESG bonds set to fuel future growth.
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- September 15 2021
February’s Fukishima earthquake claims rise to US$1.88bn: GIAJ
The industry association says the event has resulted in over 213,000 claims so far and has cost insurers nearly US$2bn.
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- September 15 2021
Asia nat cat costs double since 2010
Floods, earthquakes and typhoons have caused economic losses of around US$650 billion over the past decade.
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- September 14 2021
Hannover Re eyes APAC growth, stable 2022 renewals
The reinsurer says it has achieved and -- in some instances -- outperformed its initial profit targets in the region.
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- September 9 2021
CBIRC says motor insurance reforms meeting objectives
Regulator says auto insurance's share of the P&C market is nearing that of US and Japan after last year's regulatory changes.
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- September 9 2021
Australia’s insurers call for national approach on disaster recovery
ICA report says the removal of state taxes on insurance should boost coverage across the country.
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- September 8 2021
Fubon Insurance’s risk profile defined by geography: Moody’s
The Taiwanese insurer's operations in mainland China and Vietnam accounted around 10% of total revenue in 2020.
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- August 20 2021
Asia P&C reinsurance rates rise as nat cats, pandemic bite
A combination of government initiatives, ILS, nat cats, cyber risk and FDI regulations are set to fuel the market.
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- August 12 2021
China’s record floods dominate July’s Asia claims
Aon reports says US$1.7bn of insured losses is highest nat cat payout for the Chinese insurance industry on record.
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- August 11 2021
New Zealand’s ‘costliest’ tornado leaves a NZ$32m bill
The Insurance Council of New Zealand says NZ$24m of the claims were related to residential property.
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- August 6 2021
Henan flood claims surpass US$1.74bn
The local CBIRC office says insurers have received over 500,000 claims so far.
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- August 2 2021
Descartes Underwriting opens offices in Australia and Singapore
The French climate risk-focused MGA is expanding its operations to the Asia-Pacific region.
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- July 30 2021
China’s insurers to manage Henan flood losses: AM Best
Rating agency cites portfolio diversification and state reinsurance protection as mitigating factors.
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- July 28 2021
ZYIC maintains credit rating despite Henan flooding
AM Best cautions that the full extent of claims in the province is still unknown.
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- July 28 2021
China’s flood defences must be combined with insurance
Extreme flooding in Henan highlights the importance of a functioning risk transfer market.
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- July 26 2021
Henan’s heavy flooding triggers over US$800m of claims
Typhoon In-Fa expected to bring even more problems in the coming days.
