Subject: Catastrophe Page 1 / 61
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- May 21 2025
‘One-in-500-year’: ICA declares NSW flooding a significant event
Event may be escalated to an insurance catastrophe if there is a significant increase in claim numbers or complexity, the Insurance Council of Australia (ICA) says.
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- May 20 2025
New Zealand’s US$38bn natural hazards bill shines spotlight on ‘urgent need to reduce impact’: IAG
Since 2010, the government has spent 97% on response to catastrophes, and only 3% on risk reduction and resilience.
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- May 16 2025
Beijing hail leads to US$44m insured loss from widespread motor, property damage
Local insurers have received at least 45,600 claims, with the majority related to motor, as of May 14, according to the Beijing Financial Regulatory Bureau.
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- May 16 2025
Has Australia found the roadmap to reduce uninsurability risks? Cat bills underscore need to build on public intervention
Australian Reinsurance Pool Corporation absorbed much of losses from ex-Tropical Cyclone Alfred and has helped drive down premiums for high-risk properties.
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- May 15 2025
IAG’s 10-month nat cat bill at US$580m, tracking 22% below allowance
Its FY25 profit guidance in on course to increase by 12% to US$1.2bn.
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- May 14 2025
APAC faces billion-dollar economic losses from Q1 wildfires: Aon
The costliest event for APAC insurers was ex-Tropical Cyclone Alfred, while Myanmar earthquake was the costliest economic loss in the region, with damages expected to reach billions of dollars.
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- May 12 2025
Australia’s extreme weather costs near US$1bn in 2025: ICA
Ex-Tropical Cyclone Alfred was the costliest event at US$770m accounting for more than 90% of the claims.
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- May 9 2025
Cut taxes to bring relief to Australian policyholders, QBE chairman says
Australia’s state government insurance taxes raised US$2.2bn more than the entire industry’s profits in 2024.
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- May 9 2025
‘No barriers’ to ILS activity in Asia, says Peak Re’s Iain Reynolds
With the current soft market, investors are being offered 'quite a lot of deals', requiring issuers to fight for attention, the director of third-party capital at the Hong Kong-based reinsurance specialist tells InsuranceAsia News' Between The Lines podcast.
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- May 8 2025
Ex-Tropical Cyclone Tam 15th event to top AU$10m for Suncorp
The 15 events and other attritional natural hazard costs have meant natural hazard costs for the 10 months to April 30 are expected to be AU$1.1bn,
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- May 6 2025
South Korea allocates record US$1.38bn for unprecedented Yeongnam forest fires
Total damage has been estimated at KRW1.818 trillion (US$1.32 billion), marking the most severe forest fire incident since records began.
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- May 6 2025
Stress test shows Kiwi insurers can meet claims in NZ$100bn earthquake scenario
New Zealand's central bank assessed the responses to a major earthquake and severe cyber-risk incidents by simulating an event well beyond insurers’ solvency requirements, modelled to cost around US$60bn.
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- May 2 2025
‘Reopened’ Canterbury earthquake claims top 500, posing challenge for industry 15 years on
Kiwi carrier Tower highlighted an unexpected rise in new over-cap claims from the Natural Hazards Commission.
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- April 30 2025
New Zealand insurers’ GWP grows 8.6% to US$6.4bn, COR improves to 78.6%: ICNZ
Following the impact of the Auckland Anniversary Weekend floods and Cyclone Gabrielle in 2023, premiums stabilised in 2024 as global reinsurance rates and inflation eased, the Insurance Council of New Zealand said.
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- April 29 2025
Hurricanes, quakes could drive peak year insured losses to US$300bn: Swiss Re Institute
Global insured natural catastrophe losses may reach US$145bn in 2025, mainly driven by secondary perils like severe thunderstorms, floods and wildfires, according to Sigma report.
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- April 29 2025
‘Time to act is now’: known unknowns pose real risk to renewable energy future
Growing number of green energy projects in Australia are facing ever more extreme weather risks, with insurers unable to access data and modelling to adequately understand their exposures.
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- April 28 2025
Japan’s insurers settled US$2bn nat cat claims in FY24: GIAJ
Noto Peninsula earthquake was the largest event in terms of claims for the fiscal year that ended March 31, 2025, according to the General Insurance Association of Japan (GIAJ).
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- April 25 2025
Parametric insurance ‘plugs the gap’ as nat cat losses strain traditional coverage: Descartes’ Ben Qin
Head of North Asia and Australia tells InsuranceAsia News’ Between The Lines podcast that parametric insurance's speed and payout certainty offers a critical advantage over traditional claims.
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- April 25 2025
Myanmar, China earthquakes push Q1 global insured losses to second-highest on record: Aon
Losses resulted primarily from the California wildfires, with the total significantly higher than the 21st-century Q1 average of US$17bn.
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- April 24 2025
Thai insurers’ US$600-900m Myanmar earthquake losses to be absorbed by reinsurers: S&P Global
7.7-magnitude earthquake struck Myanmar and reverberated to Bangkok in March.
