Industry Segments: Climate Page 14 / 28
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- May 12 2023
QBE hits 90% of H1 cat allowance, adjusts COR target
The global carrier has also strengthened reserves by US$130m for weather events in FY 2022.
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- May 9 2023
JB Boda eyeing parametrics, ILS to strengthen India’s nat cat capabilities
The broker, which has an international footprint, sees opportunities in helping domestic carriers, who are poor at managing climate risk.
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- May 8 2023
Losses mount from south-east China flooding
There have been more than US$72m of economic losses as the monthly precipitation is expected to approach or exceed May records.
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- May 4 2023
New Zealand mulls ban on rebuilding ‘high-risk’ properties as cat claims surge
IAG deals with a record 46,000 summer claims as government spends US$400m on Cyclone Gabrielle clean-up costs.
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- May 3 2023
New Zealand flood losses rise to US$1.08bn: Perils
The figure relating to the North Island event is a 6% increase from the initial loss estimate of US$1.03bn.
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- April 27 2023
Perils revises Australia October flood losses to A$907m
Personal lines property losses constituted 65% of the total industry loss, while commercial lines property losses represented 25% and motor losses at 10%.
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- April 25 2023
Net-zero alliance’s existential dilemma
As Munich Re, Zurich and Hannover Re leave the NZIA, in part due to US antitrust concerns, Asian carriers have more flexibility with a lack of opposition to ESG investments in the region.
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- April 24 2023
IAG revives RACQ takeover talks: report
The Australian reported that discussions have resumed between both parties even as a conclusive deal could take time and is ‘some way off’.
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- April 21 2023
Singapore extends ILS grant scheme till 2025
The Monetary Authority of Singapore's US$11.25m grant will subsidise the cost of issuing catastrophe bonds and the expanded suite of securities that focus on Asia risks.
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- April 20 2023
Hannover Re becomes third major to leave Net-Zero Insurance Alliance
The reinsurer has joined Munich Re and Zurich in quitting the global climate group but hasn't given a specific reason.
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- April 6 2023
Zurich quits climate alliance after Munich Re exit
Zurich says it remains 'fully committed . . . to supporting the net-zero transition'.
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- April 3 2023
Munich Re quits net-zero alliance citing antitrust risks
The reinsurer claims it will pursue its own climate targets focusing on reducing greenhouse gas emissions.
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- March 29 2023
Igloo partners Scor, PVI for parametric coffee cover
It will offer weather index insurance of up to US$1,700 per hectare to coffee farmers in Vietnam's five central highlands provinces.
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- March 22 2023
Droughts in China and Australia floods push 2022 nat cat insured bill above US$100bn: Swiss Re
Hurricane Ian, inflation and growing property exposure were also key drivers for claims last year.
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- March 20 2023
Carriers brace for property claims as bushfires spread across Australia
A heatwave has sparked dozens of fires that have impacted multiple properties across WA, SA and NSW with claims inevitable.
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- March 16 2023
ICA calls for 10-year disaster funding over worsening extreme weather
The insurer body wants the government to extend the US$133m per year programme into a rolling scheme.
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- March 15 2023
Auckland floods initial loss estimate is over US$1bn: Perils
The unprecedented event is labelled as the largest weather-related insurance industry loss historically for New Zealand.
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- March 15 2023
Claims pile up from Malaysia flood losses as unseasonal rains continue
Loss adjusters have seen hundreds of claims, while agriculture damage already exceeds the overall losses in the state of Johor for 2022.
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- March 13 2023
La Niña has ended with chances of El Niño, says US agency
The average global temperature tends to be higher during El Niño, with scientists forecasting the summer of 2023 to be among the hottest globally.
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- March 6 2023
Auckland flood claims cross NZ$1bn: ICNZ
Insurers have received 48,000 claims from the North Island floods, while Cyclone Gabrielle claims lodged have reached 30,000.
